Alder BioPharmaceuticals, Inc. (ALDR) Position Raised by JPMorgan Chase & Co.
JPMorgan Chase & Co. boosted its stake in Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) by 3,084.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 235,603 shares of the biopharmaceutical company’s stock after purchasing an additional 228,205 shares during the quarter. JPMorgan Chase & Co. owned about 0.47% of Alder BioPharmaceuticals worth $2,697,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. increased its holdings in Alder BioPharmaceuticals by 52.0% in the second quarter. Eagle Asset Management Inc. now owns 1,756,507 shares of the biopharmaceutical company’s stock valued at $20,112,000 after purchasing an additional 601,242 shares during the last quarter. Pacad Investment Ltd. grew its stake in Alder BioPharmaceuticals by 165.8% in the second quarter. Pacad Investment Ltd. now owns 51,300 shares of the biopharmaceutical company’s stock valued at $587,000 after acquiring an additional 32,000 shares during the period. American Century Companies Inc. grew its stake in Alder BioPharmaceuticals by 29.2% in the second quarter. American Century Companies Inc. now owns 91,052 shares of the biopharmaceutical company’s stock valued at $1,043,000 after acquiring an additional 20,566 shares during the period. Legal & General Group Plc grew its stake 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 valued at $177,000 after acquiring an additional 400 shares during the period. Finally, Lesa Sroufe & Co acquired a new position in Alder BioPharmaceuticals in the second quarter valued at about $1,480,000. Institutional investors and hedge funds own 76.16% of the company’s stock.
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A number of research firms have issued reports on ALDR. BMO Capital Markets reissued an “outperform” rating and issued a $27.00 target price (down from $39.00) on shares of Alder BioPharmaceuticals in a research note on Wednesday, August 9th. Cowen and Company assumed coverage on Alder BioPharmaceuticals in a research note on Tuesday, September 26th. They issued an “outperform” rating and a $20.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $26.00 price objective (down from $36.00) on shares of Alder BioPharmaceuticals in a research report on Thursday, August 10th. ValuEngine raised Alder BioPharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 30th. Finally, Zacks Investment Research cut Alder BioPharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $28.69.
Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.48) EPS for the quarter, topping analysts’ consensus estimates of ($1.67) by $0.19. The company had revenue of $0.68 million during the quarter. The company’s revenue for the quarter was up 518.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.79) earnings per share.
In related news, Director Stephen M. Dow purchased 25,000 shares of the stock in a transaction that occurred on Tuesday, July 18th. The shares were bought at an average price of $10.00 per share, with a total value of $250,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 10.60% of the company’s stock.
Alder BioPharmaceuticals 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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