Artal Group S.A. boosted its position in Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) by 66.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 500,000 shares of the biopharmaceutical company’s stock after purchasing an additional 200,000 shares during the quarter. Artal Group S.A. owned approximately 0.74% of Alder BioPharmaceuticals worth $6,125,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Legal & General Group Plc raised its holdings in Alder BioPharmaceuticals by 2.6% in the second quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock worth $177,000 after purchasing an additional 400 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Alder BioPharmaceuticals by 1.9% during the second quarter. The Manufacturers Life Insurance Company now owns 37,488 shares of the biopharmaceutical company’s stock valued at $430,000 after acquiring an additional 698 shares in the last quarter. Voya Investment Management LLC increased its holdings in shares of Alder BioPharmaceuticals by 8.4% during the second quarter. Voya Investment Management LLC now owns 22,304 shares of the biopharmaceutical company’s stock valued at $255,000 after acquiring an additional 1,734 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Alder BioPharmaceuticals by 7.2% during the second quarter. Russell Investments Group Ltd. now owns 42,416 shares of the biopharmaceutical company’s stock valued at $486,000 after acquiring an additional 2,837 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in shares of Alder BioPharmaceuticals by 3.8% during the second quarter. Teachers Advisors LLC now owns 84,705 shares of the biopharmaceutical company’s stock valued at $970,000 after acquiring an additional 3,091 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

In related news, insider Mark James Litton sold 16,520 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $12.33, for a total value of $203,691.60. Following the sale, the insider now owns 116,452 shares in the company, valued at $1,435,853.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. 10.60% of the stock is owned by corporate insiders.

Several equities analysts have recently issued reports on the stock. ValuEngine upgraded shares of Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, September 30th. Mizuho restated a “buy” rating and set a $32.00 price objective on shares of Alder BioPharmaceuticals in a report on Wednesday, November 8th. Cowen and Company assumed coverage on shares of Alder BioPharmaceuticals in a report on Tuesday, September 26th. They set an “outperform” rating and a $20.00 price objective on the stock. Canaccord Genuity assumed coverage on shares of Alder BioPharmaceuticals in a report on Thursday, October 26th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Royal Bank Of Canada assumed coverage on shares of Alder BioPharmaceuticals in a report on Thursday, September 14th. They set an “outperform” rating and a $17.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. Alder BioPharmaceuticals has a consensus rating of “Buy” and a consensus target price of $28.07.

Shares of Alder BioPharmaceuticals, Inc. (NASDAQ ALDR) traded down $0.32 during midday trading on Monday, reaching $10.28. The company had a trading volume of 172,884 shares, compared to its average volume of 1,140,821. Alder BioPharmaceuticals, Inc. has a 52-week low of $8.60 and a 52-week high of $29.30.

Alder BioPharmaceuticals (NASDAQ:ALDR) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.21) by $0.29. During the same period in the previous year, the business posted ($0.70) earnings per share. equities analysts expect that Alder BioPharmaceuticals, Inc. will post -5.36 EPS for the current year.

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Alder BioPharmaceuticals Company Profile

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.

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

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