Alder Biopharmaceuticals Inc. (ALDR) was a big mover last session, as the company saw its shares soar nearly 13% on the day. Shares increased after the company announced that the underwriters of its previously announced public offering of common stock have exercised in full their option to purchase an additional 674,157 shares of common stock. The news led to far more shares changing hands than in a normal session resulting in solid volume. This reverses the recent trend of the company, as the stock is now trading above the volatile price range of $41.85 to $49.82 in the past one-month time frame.
None of the estimates for this biotechnology stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Alder Biopharmaceuticals currently carries a Zacks Rank #4 (Sell), while its Earnings ESP is 0.00%.
A better-ranked stock in the same industry is Cambrex Corporation (CBM), sporting a Zacks Rank #1 (Strong Buy).
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