Alliancebernstein L.P. boosted its position in Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,478,616 shares of the biopharmaceutical company’s stock after acquiring an additional 48,817 shares during the quarter. Alliancebernstein L.P. owned 2.93% of Alder BioPharmaceuticals worth $16,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Janus Capital Management LLC raised its position in Alder BioPharmaceuticals by 4.7% in the first quarter. Janus Capital Management LLC now owns 5,167,085 shares of the biopharmaceutical company’s stock valued at $107,473,000 after purchasing an additional 230,044 shares during the period. Wellington Management Group LLP raised its position in Alder BioPharmaceuticals by 0.7% in the first quarter. Wellington Management Group LLP now owns 3,640,788 shares of the biopharmaceutical company’s stock valued at $75,728,000 after purchasing an additional 26,791 shares during the period. Vanguard Group Inc. raised its position in Alder BioPharmaceuticals by 6.0% in the first quarter. Vanguard Group Inc. now owns 3,438,702 shares of the biopharmaceutical company’s stock valued at $71,524,000 after purchasing an additional 194,185 shares during the period. Redmile Group LLC raised its position in Alder BioPharmaceuticals by 107.5% in the first quarter. Redmile Group LLC now owns 1,909,886 shares of the biopharmaceutical company’s stock valued at $39,726,000 after purchasing an additional 989,336 shares during the period. Finally, State Street Corp raised its position in Alder BioPharmaceuticals by 1.0% in the first quarter. State Street Corp now owns 1,777,113 shares of the biopharmaceutical company’s stock valued at $36,966,000 after purchasing an additional 18,426 shares during the period. Hedge funds and other institutional investors own 76.16% of the company’s stock.

In other news, Director Stephen M. Dow purchased 25,000 shares of the firm’s stock in a transaction on Tuesday, July 18th. The stock was bought at an average cost of $10.00 per share, for a total transaction of $250,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.60% of the stock is owned by corporate insiders.

Several research firms have commented on ALDR. BMO Capital Markets reissued an “outperform” rating and issued a $27.00 price objective (down from $39.00) on shares of Alder BioPharmaceuticals in a research report on Wednesday, August 9th. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price objective (down from $36.00) on shares of Alder BioPharmaceuticals in a research report on Thursday, August 10th. Zacks Investment Research lowered Alder BioPharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Royal Bank Of Canada began coverage on Alder BioPharmaceuticals in a research report on Thursday, September 14th. They issued an “outperform” rating and a $17.00 price objective on the stock. Finally, Leerink Swann reissued an “outperform” rating and issued a $32.00 price objective on shares of Alder BioPharmaceuticals in a research report on Monday, June 12th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $30.62.

Shares of Alder BioPharmaceuticals, Inc. (ALDR) opened at 10.85 on Friday. The stock’s 50 day moving average price is $9.64 and its 200-day moving average price is $15.75. The stock’s market capitalization is $734.69 million. Alder BioPharmaceuticals, Inc. has a 12 month low of $8.60 and a 12 month high of $35.62.

Alder BioPharmaceuticals (NASDAQ:ALDR) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.67) by $0.19. The firm had revenue of $0.68 million for the quarter. During the same period last year, the business earned ($0.79) EPS. Alder BioPharmaceuticals’s revenue for the quarter was up 518.2% on a year-over-year basis. Equities analysts forecast that Alder BioPharmaceuticals, Inc. will post ($5.71) earnings per share for the current fiscal year.

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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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