Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) Posts Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.67) by $0.19, Briefing.com reports. The firm had revenue of $0.68 million during the quarter. During the same period in the prior year, the company earned ($0.79) EPS. The company’s revenue for the quarter was up 518.2% on a year-over-year basis.

Shares of Alder BioPharmaceuticals (NASDAQ:ALDR) opened at 8.80 on Friday. The firm’s market capitalization is $595.87 million. The company’s 50-day moving average price is $10.70 and its 200-day moving average price is $17.83. Alder BioPharmaceuticals has a 12-month low of $8.75 and a 12-month high of $36.48.

A number of analysts have commented on the company. UBS AG began coverage on Alder BioPharmaceuticals in a research report on Friday, May 5th. They issued a “sell” rating and a $13.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $36.00 target price on shares of Alder BioPharmaceuticals in a research report on Friday, June 9th. Aegis restated a “buy” rating and set a $41.00 target price on shares of Alder BioPharmaceuticals in a research report on Tuesday, April 25th. Leerink Swann restated an “outperform” rating and set a $32.00 target price on shares of Alder BioPharmaceuticals in a research report on Monday, June 12th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $47.00 target price on shares of Alder BioPharmaceuticals in a research report on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. Alder BioPharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $32.92.

In other news, Director Stephen M. Dow acquired 25,000 shares of the stock in a transaction dated Tuesday, July 18th. The stock was purchased at an average cost of $10.00 per share, with a total value of $250,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 10.60% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Bank of Montreal Can increased its position in shares of Alder BioPharmaceuticals by 3,047.2% in the first quarter. Bank of Montreal Can now owns 5,602 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 5,424 shares during the period. Stifel Financial Corp purchased a new position in shares of Alder BioPharmaceuticals during the first quarter valued at approximately $206,000. Trexquant Investment LP purchased a new position in shares of Alder BioPharmaceuticals during the first quarter valued at approximately $265,000. Legal & General Group Plc boosted its position in shares of Alder BioPharmaceuticals by 2.6% in the second quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock valued at $177,000 after buying an additional 400 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Alder BioPharmaceuticals by 109.4% in the second quarter. SG Americas Securities LLC now owns 15,580 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 8,140 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This report was first published by BNB Daily and is the sole property of of BNB Daily. If you are viewing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright and trademark law. The original version of this report can be read at https://www.baseball-news-blog.com/2017/08/19/alder-biopharmaceuticals-inc-nasdaqaldr-announces-quarterly-earnings-results-updated.html.

Alder BioPharmaceuticals Company Profile

Alder BioPharmaceuticals, Inc, is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize genetically engineered therapeutic antibodies with the potential to meaningfully transform current treatment paradigms. Alder’s lead pivotal-stage product candidate, eptinezumab, is being evaluated for migraine prevention.

Earnings History for Alder BioPharmaceuticals (NASDAQ:ALDR)

Receive News & Ratings for Alder BioPharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alder BioPharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply