Alder Biopharmaceuticals Receives a Buy from Credit SuisseBy Ryan Adsit
According to TipRanks.com, Divan is a 5-star analyst with an average return of 10.7% and a 50.4% success rate. Divan covers the Healthcare sector, focusing on stocks such as Corvus Pharmaceuticals Inc, Adamas Pharmaceuticals, and Edge Therapeutics Inc.
Currently, the analyst consensus on Alder Biopharmaceuticals is Strong Buy and the average price target is $42, representing a 58.8% upside.
In a report issued on November 10, BMO Capital also initiated coverage with a Buy rating on the stock with a $42 price target.
Based on Alder Biopharmaceuticals’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $0 and GAAP net loss of $35.13 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $27 million.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2016, Jeffrey Smith, the Sr. VP Translational Medicine of ALDR sold 3,000 shares for a total of $93,510.
Alder Biopharmaceuticals, Inc. a clinical-stage biopharmaceutical company, which discovers, develops, and commercializes various therapeutic antibodies. Its pipeline includes ALD403, Clazakizumab and ALD1613. The company was founded by Randall C. Schatzman, Mark J. Litton, and John A. Latham in January 2004 and is headquartered in Bothell, WA.