Alder Biopharmaceuticals Inc (NASDAQ:ALDR) Stock Position Lowered by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can lessened its position in Alder Biopharmaceuticals Inc (NASDAQ:ALDR) by 46.9% during the third quarter, Holdings Channel reports. The institutional investor owned 2,085 shares of the biopharmaceutical company’s stock after selling 1,845 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Alder Biopharmaceuticals were worth $39,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Alder Biopharmaceuticals by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 6,661,135 shares of the biopharmaceutical company’s stock worth $78,402,000 after buying an additional 111,886 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Alder Biopharmaceuticals by 7,812.2% in the 2nd quarter. Marshall Wace LLP now owns 1,675,804 shares of the biopharmaceutical company’s stock worth $19,724,000 after buying an additional 1,654,624 shares in the last quarter. Artal Group S.A. raised its stake in shares of Alder Biopharmaceuticals by 70.0% in the 2nd quarter. Artal Group S.A. now owns 850,000 shares of the biopharmaceutical company’s stock worth $10,005,000 after buying an additional 350,000 shares in the last quarter. Northern Trust Corp raised its stake in shares of Alder Biopharmaceuticals by 4.2% in the 2nd quarter. Northern Trust Corp now owns 781,822 shares of the biopharmaceutical company’s stock worth $9,203,000 after buying an additional 31,794 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Alder Biopharmaceuticals by 11.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 425,222 shares of the biopharmaceutical company’s stock worth $5,005,000 after buying an additional 43,849 shares in the last quarter.

A number of analysts have recently commented on the company. Svb Leerink downgraded Alder Biopharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Monday, September 16th. Zacks Investment Research raised Alder Biopharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective on the stock in a research note on Tuesday, October 15th. Needham & Company LLC downgraded Alder Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, September 16th. UBS Group raised Alder Biopharmaceuticals from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $9.00 to $19.50 in a research note on Tuesday, September 17th. Finally, ValuEngine downgraded Alder Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Alder Biopharmaceuticals currently has an average rating of “Hold” and an average target price of $18.83.

Shares of Alder Biopharmaceuticals stock opened at $18.88 on Friday. The stock’s fifty day moving average is $18.85 and its 200-day moving average is $12.97. The firm has a market capitalization of $1.58 billion, a PE ratio of -3.88 and a beta of 2.64. The company has a quick ratio of 8.94, a current ratio of 8.94 and a debt-to-equity ratio of 1.74. Alder Biopharmaceuticals Inc has a 12-month low of $8.39 and a 12-month high of $19.12.

Alder Biopharmaceuticals (NASDAQ:ALDR) last announced its earnings results on Tuesday, August 6th. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.27. Analysts expect that Alder Biopharmaceuticals Inc will post -3.92 EPS for the current year.

In other news, Director Jeffrey T. L. Smith sold 32,728 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $18.44, for a total transaction of $603,504.32. Following the sale, the director now directly owns 27,999 shares of the company’s stock, valued at $516,301.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.40% of the stock is owned by insiders.

Alder Biopharmaceuticals Company Profile

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 in the United States, Australia, and Ireland. The company's lead product candidate is eptinezumab, a monoclonal antibody (mAb) inhibiting calcitonin gene-related peptide, which is in the late-stage clinical development for the prevention of migraine.

Further Reading: What is a stock buyback?

Want to see what other hedge funds are holding ALDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alder Biopharmaceuticals Inc (NASDAQ:ALDR).

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

Receive News & Ratings for Alder Biopharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alder Biopharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.