Alder Biopharmaceuticals Inc (ALDR) is Initiated by JP Morgan to Overweight, Price Target at $40

Alder Biopharmaceuticals Inc (ALDR) was Initiated by JP Morgan to “Overweight” and the brokerage firm has set the Price Target at $40. JP Morgan advised their investors in a research report released on Sep 13, 2016.

On the company’s financial health, Alder Biopharmaceuticals Inc reported $-0.76 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.72.Analysts expectations of $ .14.During the same quarter in the previous year, the company posted $-0.40 EPS.

Alder Biopharmaceuticals Inc opened for trading at $29.31 and hit $31.28 on the upside on Monday, eventually ending the session at $31.25, with a gain of 5.54% or 1.64 points. The heightened volatility saw the trading volume jump to 425,334 shares. Company has a market cap of $1,568 M.

In a different news, on Sep 6, 2016, John A Latham (Chief Scientific Officer) sold 10,000 shares at $32.49 per share price. According to the SEC, on Sep 6, 2016, Randall C Schatzman (President and CEO) sold 10,000 shares at $32.48 per share price. On Sep 6, 2016, Jeffrey T L Smith (Sr. VP Translational Medicine) sold 3,000 shares at $32.79 per share price, according to the Form-4 filing with the securities and exchange commission.

Alder Biopharmaceuticals Inc. is a clinical-stage biopharmaceutical company. The Company discovers develops and seeks to commercialize therapeutic antibodies with the potential to meaningfully 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. The Company’s pipeline includes ALD403 Clazakizumab and ALD1613. ALD403 is the Company’s monoclonal antibody targeted to calcitonin gene-related peptide (CGRP) for migraine prevention. Clazakizumab is a monoclonal antibody that inhibits the pro-inflammatory cytokine interleukin-6 (IL-6) and is in development for both rheumatoid arthritis (RA) and psoriatic arthritis (PsA). ALD1613 is a monoclonal antibody that inhibits Adrenocorticotropic Hormone (ACTH) and is being developed for the treatment of Cushing’s disease.

Alder Biopharmaceuticals Inc

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