Fosun International Ltd purchased a new stake in Alder Biopharmaceuticals Inc (NASDAQ:ALDR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 159,813 shares of the biopharmaceutical company’s stock, valued at approximately $2,661,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Quantitative Systematic Strategies LLC raised its holdings in Alder Biopharmaceuticals by 25.0% in the second quarter. Quantitative Systematic Strategies LLC now owns 13,115 shares of the biopharmaceutical company’s stock valued at $207,000 after acquiring an additional 2,626 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new stake in Alder Biopharmaceuticals in the third quarter valued at $400,000. Legal & General Group Plc raised its holdings in Alder Biopharmaceuticals by 31.1% in the first quarter. Legal & General Group Plc now owns 25,547 shares of the biopharmaceutical company’s stock valued at $324,000 after acquiring an additional 6,060 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Alder Biopharmaceuticals in the second quarter valued at $107,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Alder Biopharmaceuticals in the second quarter valued at $128,000. 98.86% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently issued reports on ALDR. Stifel Nicolaus began coverage on shares of Alder Biopharmaceuticals in a report on Tuesday, August 7th. They issued a “buy” rating and a $30.00 price target on the stock. Zacks Investment Research raised shares of Alder Biopharmaceuticals from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, October 9th. ValuEngine raised shares of Alder Biopharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 2nd. Wells Fargo & Co initiated coverage on shares of Alder Biopharmaceuticals in a report on Tuesday, November 6th. They set an “outperform” rating on the stock. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $21.00 target price on shares of Alder Biopharmaceuticals in a report on Tuesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $21.67.

Shares of NASDAQ:ALDR opened at $13.27 on Monday. The firm has a market cap of $906.69 million, a price-to-earnings ratio of -2.68 and a beta of 2.70. Alder Biopharmaceuticals Inc has a 1-year low of $10.05 and a 1-year high of $20.87. The company has a debt-to-equity ratio of 0.97, a quick ratio of 15.34 and a current ratio of 15.34.

Alder Biopharmaceuticals (NASDAQ:ALDR) last issued its earnings results on Monday, November 5th. The biopharmaceutical company reported ($0.91) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.13) by $0.22. As a group, equities research analysts anticipate that Alder Biopharmaceuticals Inc will post -4.59 EPS for the current year.

In other Alder Biopharmaceuticals news, insider John A. Latham sold 24,999 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $17.99, for a total transaction of $449,732.01. Following the sale, the insider now directly owns 268,692 shares of the company’s stock, valued at $4,833,769.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John A. Latham sold 25,002 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $13.42, for a total transaction of $335,526.84. Following the transaction, the insider now owns 250,514 shares of the company’s stock, valued at approximately $3,361,897.88. The disclosure for this sale can be found here. Insiders have sold 90,120 shares of company stock worth $1,407,922 over the last three months. 17.40% of the stock is owned by corporate insiders.

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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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