Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $27.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research’s price target would suggest a potential upside of 14.65% from the stock’s previous close.

According to Zacks, “Alder Biopharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It discovers, develops and seeks to commercialize therapeutic antibodies. It is developing monoclonal antibodies comprising ALD403, for the prevention of migraine; and Clazakizumab, in the treatment of rheumatoid arthritis and psoriatic arthritis. Alder Biopharmaceuticals Inc. is headquartered in Bothell, Washington. “

Several other equities research analysts have also weighed in on ALDR. Jefferies Group reaffirmed a “buy” rating on shares of Alder BioPharmaceuticals in a research report on Tuesday, August 23rd. JPMorgan Chase & Co. initiated coverage on Alder BioPharmaceuticals in a research report on Tuesday, September 13th. They issued an “overweight” rating and a $40.00 target price on the stock. Brean Capital initiated coverage on Alder BioPharmaceuticals in a research report on Friday, September 30th. They issued a “buy” rating and a $45.00 target price on the stock. Piper Jaffray Cos. initiated coverage on Alder BioPharmaceuticals in a research report on Monday, October 31st. They issued an “overweight” rating and a $47.00 target price on the stock. Finally, Aegis initiated coverage on Alder BioPharmaceuticals in a research report on Monday, November 7th. They issued a “buy” rating and a $41.00 target price on the stock. Ten equities research analysts have rated the stock with a buy rating, Alder BioPharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $42.13.

Analyst Recommendations for Alder BioPharmaceuticals (NASDAQ:ALDR)

Shares of Alder BioPharmaceuticals (NASDAQ:ALDR) opened at 23.55 on Tuesday. The stock’s market capitalization is $1.18 billion. The company has a 50 day moving average of $27.81 and a 200 day moving average of $29.09. Alder BioPharmaceuticals has a 52-week low of $15.82 and a 52-week high of $38.74.

Alder BioPharmaceuticals (NASDAQ:ALDR) last issued its earnings results on Thursday, October 27th. The biopharmaceutical company reported ($0.70) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.85) by $0.15. During the same period last year, the business earned ($0.62) earnings per share. Analysts predict that Alder BioPharmaceuticals will post ($3.13) EPS for the current fiscal year.

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In related news, insider John A. Latham sold 10,000 shares of Alder BioPharmaceuticals stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $31.32, for a total transaction of $313,200.00. Following the transaction, the insider now directly owns 252,200 shares of the company’s stock, valued at $7,898,904. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mark James Litton sold 6,000 shares of Alder BioPharmaceuticals stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $27.50, for a total value of $165,000.00. Following the transaction, the insider now directly owns 99,567 shares in the company, valued at $2,738,092.50. The disclosure for this sale can be found here. Corporate insiders own 11.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALDR. Bank of New York Mellon Corp raised its position in Alder BioPharmaceuticals by 85.8% in the second quarter. Bank of New York Mellon Corp now owns 197,768 shares of the biopharmaceutical company’s stock worth $4,938,000 after buying an additional 91,328 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in Alder BioPharmaceuticals during the second quarter worth about $5,990,000. Swiss National Bank raised its position in Alder BioPharmaceuticals by 72.7% in the second quarter. Swiss National Bank now owns 63,542 shares of the biopharmaceutical company’s stock worth $1,587,000 after buying an additional 26,742 shares during the last quarter. Nationwide Fund Advisors raised its position in Alder BioPharmaceuticals by 48.0% in the second quarter. Nationwide Fund Advisors now owns 49,699 shares of the biopharmaceutical company’s stock worth $1,241,000 after buying an additional 16,126 shares during the last quarter. Finally, Neuberger Berman Group LLC purchased a new position in Alder BioPharmaceuticals during the second quarter worth about $499,000.

About Alder BioPharmaceuticals

Alder Biopharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and focuses to commercialize therapeutic antibodies with the potential to transform current treatment paradigms. The Company has developed an antibody platform designed to select antibodies that have the potential to maximize efficacy, as well as speed of onset and durability of therapeutic response.

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