Alder BioPharmaceuticals, Inc. (ALDR) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its position in shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,096 shares of the biopharmaceutical company’s stock after selling 193 shares during the period. Legal & General Group Plc’s holdings in Alder BioPharmaceuticals were worth $316,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ALDR. Teachers Advisors LLC raised its stake in 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 during the last quarter. Baird Financial Group Inc. increased its position in 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 during the period. Swiss National Bank increased its position in 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 during the period. American International Group Inc. increased its position in 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 during the period. Finally, American Century Companies Inc. increased its position in Alder BioPharmaceuticals by 5.7% in the first quarter. American Century Companies Inc. now owns 70,486 shares of the biopharmaceutical company’s stock worth $1,466,000 after buying an additional 3,815 shares during the period. Institutional investors own 78.83% of the company’s stock.

Shares of Alder BioPharmaceuticals, Inc. (ALDR) opened at 8.80 on Friday. The company has a 50 day moving average of $10.70 and a 200 day moving average of $17.83. The company’s market cap is $595.87 million. Alder BioPharmaceuticals, Inc. has a 1-year low of $8.75 and a 1-year high of $36.48.

Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.67) by $0.19. The firm had revenue of $0.68 million during the quarter. Alder BioPharmaceuticals’s quarterly revenue was up 518.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.79) EPS. Equities analysts expect that Alder BioPharmaceuticals, Inc. will post ($5.79) earnings per share for the current fiscal year.

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A number of equities analysts have recently weighed in on ALDR shares. Zacks Investment Research raised shares of Alder BioPharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Tuesday, July 11th. Aegis reaffirmed a “buy” rating and issued a $41.00 price target on shares of Alder BioPharmaceuticals in a research note on Wednesday, July 5th. Needham & Company LLC reissued a “buy” rating and set a $36.00 target price on shares of Alder BioPharmaceuticals in a research report on Friday, June 9th. Credit Suisse Group downgraded shares of Alder BioPharmaceuticals from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $30.00 to $17.00 in a research report on Wednesday, June 28th. Finally, Leerink Swann reissued an “outperform” rating and set a $32.00 target price on shares of Alder BioPharmaceuticals in a research report on Monday, June 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. Alder BioPharmaceuticals has an average rating of “Buy” and a consensus target price of $32.92.

In other news, Director Stephen M. Dow purchased 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The shares were bought at an average price of $10.00 per share, for a total transaction of $250,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 10.60% of the company’s stock.

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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