Alder BioPharmaceuticals, Inc. (ALDR) Trading Down 4.5%

Shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) traded down 4.5% on Tuesday . The company traded as low as $9.55 and last traded at $10.65. 919,100 shares were traded during mid-day trading, a decline of 19% from the average session volume of 1,139,830 shares. The stock had previously closed at $11.15.

A number of analysts recently weighed in on the stock. BidaskClub raised shares of Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Needham & Company LLC set a $36.00 price target on shares of Alder BioPharmaceuticals and gave the company a “buy” rating in a report on Monday, July 17th. Zacks Investment Research lowered shares of Alder BioPharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BMO Capital Markets reissued an “outperform” rating and issued a $27.00 price target (down previously from $39.00) on shares of Alder BioPharmaceuticals in a report on Wednesday, August 9th. Finally, Credit Suisse Group AG set a $11.00 price target on shares of Alder BioPharmaceuticals and gave the company a “hold” rating in a report on Thursday, August 24th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $28.07.

Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.29. During the same quarter in the prior year, the firm earned ($0.70) EPS. sell-side analysts predict that Alder BioPharmaceuticals, Inc. will post -5.36 EPS for the current year.

In other news, insider Mark James Litton sold 16,520 shares of Alder BioPharmaceuticals stock in a transaction on Monday, October 16th. The shares were sold at an average price of $12.33, for a total transaction of $203,691.60. Following the transaction, the insider now directly owns 116,452 shares of the company’s stock, valued at $1,435,853.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 10.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc boosted its position in shares of Alder BioPharmaceuticals by 2.6% during the second quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock worth $177,000 after purchasing an additional 400 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Alder BioPharmaceuticals by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 37,488 shares of the biopharmaceutical company’s stock worth $430,000 after purchasing an additional 698 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Alder BioPharmaceuticals by 8.4% during the second quarter. Voya Investment Management LLC now owns 22,304 shares of the biopharmaceutical company’s stock worth $255,000 after purchasing an additional 1,734 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Alder BioPharmaceuticals by 7.2% during the second quarter. Russell Investments Group Ltd. now owns 42,416 shares of the biopharmaceutical company’s stock worth $486,000 after purchasing an additional 2,837 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of Alder BioPharmaceuticals by 3.8% during the second quarter. Teachers Advisors LLC now owns 84,705 shares of the biopharmaceutical company’s stock worth $970,000 after purchasing an additional 3,091 shares in the last quarter. 78.93% of the stock is currently owned by institutional investors.

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About Alder BioPharmaceuticals

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.

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