Alliancebernstein L.P. Has $2.09 Million Position in Alder BioPharmaceuticals (ALDR)

Alliancebernstein L.P. increased its position in shares of Alder BioPharmaceuticals (NASDAQ:ALDR) by 176.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 182,740 shares of the biopharmaceutical company’s stock after acquiring an additional 116,600 shares during the quarter. Alliancebernstein L.P.’s holdings in Alder BioPharmaceuticals were worth $2,092,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ALDR. Rhumbline Advisers boosted its position in Alder BioPharmaceuticals by 16.1% during the third quarter. Rhumbline Advisers now owns 71,334 shares of the biopharmaceutical company’s stock worth $874,000 after acquiring an additional 9,918 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Alder BioPharmaceuticals by 35.7% during the third quarter. Bank of New York Mellon Corp now owns 315,156 shares of the biopharmaceutical company’s stock worth $3,860,000 after acquiring an additional 82,869 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Alder BioPharmaceuticals by 38.4% during the third quarter. Ameriprise Financial Inc. now owns 857,871 shares of the biopharmaceutical company’s stock worth $10,509,000 after acquiring an additional 237,933 shares during the last quarter. American International Group Inc. boosted its position in Alder BioPharmaceuticals by 43.7% during the third quarter. American International Group Inc. now owns 42,060 shares of the biopharmaceutical company’s stock worth $515,000 after acquiring an additional 12,784 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Alder BioPharmaceuticals by 78.1% during the third quarter. JPMorgan Chase & Co. now owns 419,700 shares of the biopharmaceutical company’s stock worth $4,806,000 after acquiring an additional 184,097 shares during the last quarter. Hedge funds and other institutional investors own 99.14% of the company’s stock.

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NASDAQ:ALDR opened at $12.60 on Monday. The company has a market cap of $854.85, a price-to-earnings ratio of -2.55 and a beta of 2.54. Alder BioPharmaceuticals has a fifty-two week low of $8.60 and a fifty-two week high of $22.50.

Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.03) by $0.23. The company had revenue of $0.94 million for the quarter. During the same quarter in the prior year, the company posted ($0.97) earnings per share. equities analysts expect that Alder BioPharmaceuticals will post -4.25 EPS for the current year.

A number of brokerages recently issued reports on ALDR. Mizuho restated a “buy” rating and set a $29.00 target price on shares of Alder BioPharmaceuticals in a research report on Wednesday, January 31st. Canaccord Genuity set a $22.00 price target on shares of Alder BioPharmaceuticals and gave the stock a “buy” rating in a research note on Friday, January 12th. BMO Capital Markets reaffirmed a “buy” rating and set a $22.00 price target on shares of Alder BioPharmaceuticals in a research note on Wednesday, January 3rd. ValuEngine raised shares of Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 4th. Finally, BidaskClub raised shares of Alder BioPharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $28.14.

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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 and other serious neurological or inflammatory conditions in the United States, Australia, and Ireland.

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Institutional Ownership by Quarter for Alder BioPharmaceuticals (NASDAQ:ALDR)

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