Pictet Asset Management Ltd. raised its position in Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) by 4.0% during the second quarter, Holdings Channel reports. The fund owned 636,250 shares of the biopharmaceutical company’s stock after buying an additional 24,544 shares during the period. Pictet Asset Management Ltd.’s holdings in Alder BioPharmaceuticals were worth $9,798,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Janus Capital Management LLC raised its stake 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 worth $107,473,000 after buying an additional 230,044 shares during the last quarter. Wellington Management Group LLP raised its stake 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 worth $75,728,000 after buying an additional 26,791 shares during the last quarter. Vanguard Group Inc. raised its stake 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 worth $71,524,000 after buying an additional 194,185 shares during the last quarter. Redmile Group LLC raised its stake 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 worth $39,726,000 after buying an additional 989,336 shares during the last quarter. Finally, State Street Corp raised its stake 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 worth $36,966,000 after buying an additional 18,426 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) opened at 9.25 on Tuesday. Alder BioPharmaceuticals, Inc. has a 52-week low of $8.80 and a 52-week high of $36.48. The company’s 50 day moving average is $11.26 and its 200-day moving average is $18.11. The firm’s market cap is $626.35 million.

Alder BioPharmaceuticals (NASDAQ:ALDR) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.67) by $0.19. The firm had revenue of $0.68 million during the quarter. During the same quarter last year, the company earned ($0.79) EPS. The business’s revenue was up 518.2% on a year-over-year basis. On average, equities analysts predict that Alder BioPharmaceuticals, Inc. will post ($5.82) EPS for the current fiscal year.

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ALDR has been the topic of a number of research reports. Credit Suisse Group lowered shares of Alder BioPharmaceuticals from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $30.00 to $17.00 in a report on Wednesday, June 28th. Zacks Investment Research raised shares of Alder BioPharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a report on Tuesday, July 11th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $51.00 price objective on shares of Alder BioPharmaceuticals in a research note on Wednesday, June 28th. ValuEngine raised shares of Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 20th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $47.00 price objective on shares of Alder BioPharmaceuticals in a research note on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $32.92.

In other news, Director Stephen M. Dow bought 25,000 shares of the business’s stock in a transaction dated Tuesday, July 18th. The shares were purchased at an average price of $10.00 per share, for a total transaction of $250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.60% of the stock is currently owned by company insiders.

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.

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

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