Canaccord Genuity Lowers Alder Biopharmaceuticals (NASDAQ:ALDR) to Hold

Alder Biopharmaceuticals (NASDAQ:ALDR) was downgraded by stock analysts at Canaccord Genuity from a “buy” rating to a “hold” rating in a research note issued on Monday, The Fly reports.

A number of other research analysts have also weighed in on ALDR. Leerink Swann assumed coverage on Alder Biopharmaceuticals in a report on Tuesday, May 28th. They set an “outperform” rating and a $21.00 price objective on the stock. Svb Leerink assumed coverage on Alder Biopharmaceuticals in a report on Tuesday, May 28th. They set an “outperform” rating on the stock. Zacks Investment Research raised Alder Biopharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a report on Friday, August 9th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Alder Biopharmaceuticals in a report on Wednesday, July 10th. Finally, BMO Capital Markets lowered Alder Biopharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Alder Biopharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $16.57.

Shares of NASDAQ:ALDR traded up $8.37 during trading on Monday, reaching $18.43. The company had a trading volume of 3,002,104 shares, compared to its average volume of 569,102. The firm has a market capitalization of $814.63 million, a price-to-earnings ratio of -3.78 and a beta of 2.56. The company has a debt-to-equity ratio of 1.74, a current ratio of 8.94 and a quick ratio of 8.94. The stock’s fifty day moving average price is $9.38 and its 200 day moving average price is $11.49. Alder Biopharmaceuticals has a fifty-two week low of $8.39 and a fifty-two week high of $18.70.



Alder Biopharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported ($0.72) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.99) by $0.27. On average, equities analysts anticipate that Alder Biopharmaceuticals will post -4.13 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. United Services Automobile Association grew its holdings in Alder Biopharmaceuticals by 0.9% in the second quarter. United Services Automobile Association now owns 238,335 shares of the biopharmaceutical company’s stock valued at $2,805,000 after purchasing an additional 2,115 shares during the last quarter. Point72 Hong Kong Ltd grew its holdings in Alder Biopharmaceuticals by 236.9% in the second quarter. Point72 Hong Kong Ltd now owns 3,217 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 2,262 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings 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. Bank of Montreal Can grew its holdings in Alder Biopharmaceuticals by 39.7% in the second quarter. Bank of Montreal Can now owns 21,428 shares of the biopharmaceutical company’s stock valued at $252,000 after purchasing an additional 6,089 shares during the last quarter. Finally, GSA Capital Partners LLP grew its holdings in Alder Biopharmaceuticals by 63.9% in the second quarter. GSA Capital Partners LLP now owns 18,681 shares of the biopharmaceutical company’s stock valued at $220,000 after purchasing an additional 7,283 shares during the last quarter.

Alder Biopharmaceuticals Company Profile

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.

Recommended Story: The role of implied volatility with call option volume

The Fly

Analyst Recommendations for Alder Biopharmaceuticals (NASDAQ:ALDR)

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