Ameriprise Financial Inc. raised its stake in shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) by 287.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 619,938 shares of the biopharmaceutical company’s stock after buying an additional 459,821 shares during the period. Ameriprise Financial Inc. owned 1.23% of Alder BioPharmaceuticals worth $7,098,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its stake in shares of Alder BioPharmaceuticals by 145.2% in the first quarter. Russell Investments Group Ltd. now owns 39,579 shares of the biopharmaceutical company’s stock worth $823,000 after purchasing an additional 23,437 shares during the period. Bank of New York Mellon Corp grew its position in Alder BioPharmaceuticals by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 210,401 shares of the biopharmaceutical company’s stock worth $4,377,000 after buying an additional 9,218 shares in the last quarter. Swiss National Bank grew its position in Alder BioPharmaceuticals by 2.6% during the first quarter. Swiss National Bank now owns 66,342 shares of the biopharmaceutical company’s stock worth $1,380,000 after buying an additional 1,700 shares in the last quarter. Sei Investments Co. grew its position in Alder BioPharmaceuticals by 2,297.8% during the first quarter. Sei Investments Co. now owns 25,584 shares of the biopharmaceutical company’s stock worth $532,000 after buying an additional 24,517 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Alder BioPharmaceuticals by 19.0% during the first quarter. Prudential Financial Inc. now owns 140,890 shares of the biopharmaceutical company’s stock worth $2,931,000 after buying an additional 22,500 shares in the last quarter. Institutional investors own 76.13% of the company’s stock.
In other Alder BioPharmaceuticals news, insider Mark James Litton sold 16,520 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $12.33, for a total value of $203,691.60. Following the completion of the transaction, the insider now directly owns 116,452 shares in the company, valued at approximately $1,435,853.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.60% of the stock is currently owned by corporate insiders.
ALDR has been the topic of a number of recent research reports. Needham & Company LLC set a $36.00 price objective on Alder BioPharmaceuticals and gave the company a “buy” rating in a report on Monday, July 17th. BidaskClub raised Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Zacks Investment Research downgraded Alder BioPharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. ValuEngine downgraded Alder BioPharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Thursday, June 29th. Finally, Aegis reissued a “buy” rating and issued a $41.00 target price on shares of Alder BioPharmaceuticals in a report on Wednesday, July 5th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $28.07.
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Alder BioPharmaceuticals, Inc. (ALDR) opened at 10.35 on Friday. The company has a 50-day moving average of $11.27 and a 200-day moving average of $13.95. Alder BioPharmaceuticals, Inc. has a 52 week low of $8.60 and a 52 week high of $34.30. The firm’s market capitalization is $700.83 million.
Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.67) by $0.19. The firm had revenue of $0.68 million for the quarter. During the same period in the prior year, the firm earned ($0.79) earnings per share. The firm’s revenue for the quarter was up 518.2% compared to the same quarter last year. On average, equities analysts forecast that Alder BioPharmaceuticals, Inc. will post ($5.60) earnings per share for the current fiscal year.
About Alder BioPharmaceuticals
Alder BioPharmaceuticals, Inc, is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize genetically engineered therapeutic antibodies with the potential to meaningfully transform current treatment paradigms. Alder’s lead pivotal-stage product candidate, eptinezumab, is being evaluated for migraine prevention.
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