Candriam Luxembourg S.C.A. increased its position in shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) by 7.3% during the second quarter, Holdings Channel reports. The fund owned 117,000 shares of the biopharmaceutical company’s stock after buying an additional 8,000 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Alder BioPharmaceuticals were worth $1,340,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Teachers Advisors LLC raised its position in shares of Alder BioPharmaceuticals by 1.5% in the fourth quarter. Teachers Advisors LLC now owns 76,809 shares of the biopharmaceutical company’s stock worth $1,598,000 after buying an additional 1,171 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Alder BioPharmaceuticals by 7.9% in the first quarter. Baird Financial Group Inc. now owns 18,441 shares of the biopharmaceutical company’s stock worth $384,000 after buying an additional 1,349 shares in the last quarter. Swiss National Bank raised its position in shares of Alder BioPharmaceuticals by 2.6% in 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. American International Group Inc. raised its position in shares of Alder BioPharmaceuticals by 7.1% in the first quarter. American International Group Inc. now owns 28,849 shares of the biopharmaceutical company’s stock worth $600,000 after buying an additional 1,910 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Alder BioPharmaceuticals by 7.2% in the second quarter. Russell Investments Group Ltd. now owns 42,416 shares of the biopharmaceutical company’s stock worth $486,000 after buying an additional 2,837 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) opened at 9.30 on Friday. The stock’s market capitalization is $629.73 million. Alder BioPharmaceuticals, Inc. has a 52-week low of $8.80 and a 52-week high of $36.48. The firm’s 50-day moving average price is $11.56 and its 200-day moving average price is $18.22.

Alder BioPharmaceuticals (NASDAQ:ALDR) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.67) by $0.19. The firm had revenue of $0.68 million for the quarter. During the same quarter in the previous year, the business posted ($0.79) EPS. The business’s revenue for the quarter was up 518.2% compared to the same quarter last year. Equities analysts forecast that Alder BioPharmaceuticals, Inc. will post ($5.82) earnings per share for the current fiscal year.

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A number of research analysts recently weighed in on ALDR shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $43.00 price objective on shares of Alder BioPharmaceuticals in a report on Monday, April 17th. Aegis reaffirmed a “buy” rating and set a $41.00 price objective on shares of Alder BioPharmaceuticals in a report on Tuesday, April 25th. UBS AG started coverage on Alder BioPharmaceuticals in a report on Friday, May 5th. They set a “sell” rating and a $13.00 price objective on the stock. Needham & Company LLC started coverage on Alder BioPharmaceuticals in a report on Monday, May 15th. They set a “buy” rating and a $36.00 price objective on the stock. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Alder BioPharmaceuticals in a report on Monday, June 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. Alder BioPharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $32.92.

In other news, Director Stephen M. Dow purchased 25,000 shares of the stock in a transaction dated Tuesday, July 18th. The shares were bought at an average cost of $10.00 per share, for a total transaction of $250,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.60% of the stock is currently owned by company insiders.

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

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