Credit Suisse Group Trims Alder Biopharmaceuticals (ALDR) Target Price to $17.00

Alder Biopharmaceuticals (NASDAQ:ALDR) had its price target cut by research analysts at Credit Suisse Group from $19.00 to $17.00 in a report issued on Tuesday. The brokerage currently has a “hold” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s target price points to a potential upside of 16.52% from the company’s current price.

Several other equities research analysts have also recently issued reports on the company. Wells Fargo & Co assumed coverage on Alder Biopharmaceuticals in a report on Tuesday. They issued an “outperform” rating on the stock. Cowen set a $23.00 target price on Alder Biopharmaceuticals and gave the stock a “buy” rating in a report on Monday. Cantor Fitzgerald set a $21.00 target price on Alder Biopharmaceuticals and gave the stock a “hold” rating in a report on Tuesday. BidaskClub raised Alder Biopharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, November 3rd. Finally, ValuEngine raised Alder Biopharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Alder Biopharmaceuticals has a consensus rating of “Hold” and a consensus price target of $21.58.

NASDAQ:ALDR opened at $14.59 on Tuesday. The company has a current ratio of 15.34, a quick ratio of 10.88 and a debt-to-equity ratio of 0.97. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -2.95 and a beta of 2.70. Alder Biopharmaceuticals has a 52 week low of $9.55 and a 52 week high of $20.87.

Alder Biopharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.91) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.13) by $0.22. As a group, analysts predict that Alder Biopharmaceuticals will post -4.62 earnings per share for the current fiscal year.

In other Alder Biopharmaceuticals news, insider John A. Latham sold 24,999 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $15.44, for a total transaction of $385,984.56. Following the sale, the insider now directly owns 261,878 shares of the company’s stock, valued at $4,043,396.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey T. L. Smith sold 5,040 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $18.00, for a total value of $90,720.00. Following the sale, the director now directly owns 5,871 shares in the company, valued at $105,678. The disclosure for this sale can be found here. Insiders have sold 90,120 shares of company stock worth $1,407,922 over the last three months. 17.40% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Brown Advisory Inc. increased its stake in Alder Biopharmaceuticals by 1.2% during the second quarter. Brown Advisory Inc. now owns 1,078,596 shares of the biopharmaceutical company’s stock worth $17,042,000 after acquiring an additional 12,432 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Alder Biopharmaceuticals by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 842,418 shares of the biopharmaceutical company’s stock valued at $13,310,000 after buying an additional 19,634 shares during the period. Bellevue Group AG boosted its position in shares of Alder Biopharmaceuticals by 8.4% during the second quarter. Bellevue Group AG now owns 758,964 shares of the biopharmaceutical company’s stock valued at $11,992,000 after buying an additional 58,500 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Alder Biopharmaceuticals by 10.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 737,398 shares of the biopharmaceutical company’s stock valued at $11,651,000 after buying an additional 69,327 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Alder Biopharmaceuticals by 34.9% during the second quarter. Renaissance Technologies LLC now owns 434,800 shares of the biopharmaceutical company’s stock valued at $6,870,000 after buying an additional 112,500 shares during the period.

About Alder Biopharmaceuticals

Alder BioPharmaceuticals, Inc operates as a clinical-stage biopharmaceutical company. It discovers, develops, and commercializes therapeutic antibodies to transform the treatment paradigm for patients with migraine and other serious neurological or inflammatory conditions in the United States, Australia, and Ireland.

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Analyst Recommendations for Alder Biopharmaceuticals (NASDAQ:ALDR)

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