Other analysts also recently issued reports about the company. Canaccord Genuity upgraded Fortuna Silver Mines from a hold rating to a buy rating in a research note on Thursday, March 14th. They noted that the move was a valuation call. Mizuho set a $100.00 price target on PRA Health Sciences and gave the company a hold rating in a research note on Friday, May 3rd. Cowen set a $150.00 target price on Tesla and gave the stock a sell rating in a research report on Friday, May 3rd. Zacks Investment Research upgraded HB Fuller from a sell rating to a hold rating in a research report on Wednesday, July 3rd. Finally, Leerink Swann assumed coverage on Alder Biopharmaceuticals in a research report on Tuesday, May 28th. They set an outperform rating and a $21.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $19.82.
Shares of NASDAQ ALDR opened at $11.52 on Tuesday. The company has a quick ratio of 8.34, a current ratio of 8.34 and a debt-to-equity ratio of 1.21. Alder Biopharmaceuticals has a fifty-two week low of $9.44 and a fifty-two week high of $20.87. The firm has a market cap of $958.62 million, a price-to-earnings ratio of -2.37 and a beta of 2.55. The stock’s 50-day simple moving average is $11.46.
In other news, EVP James B. Bucher sold 1,897 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $13.85, for a total value of $26,273.45. Following the completion of the transaction, the executive vice president now directly owns 11,706 shares of the company’s stock, valued at $162,128.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 15.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALDR. Marshall Wace LLP acquired a new position in Alder Biopharmaceuticals in the first quarter valued at $289,000. DekaBank Deutsche Girozentrale increased its stake in Alder Biopharmaceuticals by 22.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 24,200 shares of the biopharmaceutical company’s stock valued at $432,000 after purchasing an additional 4,400 shares during the last quarter. Fosun International Ltd increased its stake in Alder Biopharmaceuticals by 26.5% in the first quarter. Fosun International Ltd now owns 233,858 shares of the biopharmaceutical company’s stock valued at $3,113,000 after purchasing an additional 49,045 shares during the last quarter. TD Asset Management Inc. increased its stake in Alder Biopharmaceuticals by 4.2% in the first quarter. TD Asset Management Inc. now owns 220,064 shares of the biopharmaceutical company’s stock valued at $3,004,000 after purchasing an additional 8,881 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in Alder Biopharmaceuticals by 10.3% in the first quarter. Rhumbline Advisers now owns 107,797 shares of the biopharmaceutical company’s stock valued at $1,471,000 after purchasing an additional 10,035 shares during the last quarter.
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 in the United States, Australia, and Ireland. The company's lead product candidate is eptinezumab, a monoclonal antibody (mAb) inhibiting calcitonin gene-related peptide, which is in the late-stage clinical development for the prevention of migraine.
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