Zacks Investment Research Downgrades Alder Biopharmaceuticals (ALDR) to Hold

Zacks Investment Research cut shares of Alder Biopharmaceuticals (NASDAQ:ALDR) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

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. “

Other equities analysts have also issued reports about the stock. ValuEngine raised shares of Alder Biopharmaceuticals from a hold rating to a buy rating in a report on Wednesday, January 30th. BidaskClub raised shares of Alder Biopharmaceuticals from a hold rating to a buy rating in a report on Wednesday, April 3rd. Canaccord Genuity cut their target price on shares of Alder Biopharmaceuticals from $21.00 to $20.00 and set a buy rating for the company in a report on Thursday, March 14th. Cowen set a $18.00 target price on shares of Alder Biopharmaceuticals and gave the company a buy rating in a report on Friday, May 3rd. Finally, Mizuho reissued a hold rating and issued a $15.00 price target on shares of Alder Biopharmaceuticals in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $20.64.

Shares of NASDAQ:ALDR traded down $0.49 during trading on Tuesday, hitting $11.20. 17,845 shares of the stock traded hands, compared to its average volume of 1,103,007. The company has a debt-to-equity ratio of 1.66, a current ratio of 14.87 and a quick ratio of 14.87. The firm has a market cap of $976.16 million, a price-to-earnings ratio of -2.37 and a beta of 2.74. Alder Biopharmaceuticals has a 52-week low of $9.44 and a 52-week high of $20.87.

Alder Biopharmaceuticals (NASDAQ:ALDR) last posted its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($1.63) earnings per share for the quarter, missing the consensus estimate of ($1.16) by ($0.47). On average, sell-side analysts anticipate that Alder Biopharmaceuticals will post -4.47 earnings per share for the current fiscal year.

In related news, EVP James B. Bucher sold 1,897 shares of Alder Biopharmaceuticals stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $13.85, for a total value of $26,273.45. Following the sale, the executive vice president now owns 11,706 shares of the company’s stock, valued at approximately $162,128.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.40% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc grew its stake in Alder Biopharmaceuticals by 2.3% in the 3rd quarter. Vanguard Group Inc now owns 5,154,209 shares of the biopharmaceutical company’s stock valued at $85,817,000 after acquiring an additional 115,375 shares during the period. Artal Group S.A. acquired a new stake in Alder Biopharmaceuticals in the 4th quarter valued at $2,050,000. Assenagon Asset Management S.A. acquired a new stake in Alder Biopharmaceuticals in the 4th quarter valued at $614,000. Citigroup Inc. grew its stake in Alder Biopharmaceuticals by 152.2% in the 4th quarter. Citigroup Inc. now owns 331,936 shares of the biopharmaceutical company’s stock valued at $3,402,000 after acquiring an additional 200,294 shares during the period. Finally, Millennium Management LLC boosted its stake in Alder Biopharmaceuticals by 168.5% during the 4th quarter. Millennium Management LLC now owns 477,310 shares of the biopharmaceutical company’s stock worth $4,892,000 after purchasing an additional 299,538 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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