Wells Fargo & Company MN Has $2.12 Million Holdings in Alder BioPharmaceuticals, Inc. (ALDR)
Wells Fargo & Company MN boosted its holdings in shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) by 28.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,897 shares of the biopharmaceutical company’s stock after purchasing an additional 37,826 shares during the quarter. Wells Fargo & Company MN’s holdings in Alder BioPharmaceuticals were worth $2,117,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Quantitative Systematic Strategies LLC purchased a new stake in Alder BioPharmaceuticals during the 3rd quarter worth approximately $132,000. Legal & General Group Plc increased its holdings in Alder BioPharmaceuticals by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock worth $177,000 after purchasing an additional 400 shares during the last quarter. SG Americas Securities LLC increased its holdings in Alder BioPharmaceuticals by 109.4% during the 2nd quarter. SG Americas Securities LLC now owns 15,580 shares of the biopharmaceutical company’s stock worth $178,000 after purchasing an additional 8,140 shares during the last quarter. Voya Investment Management LLC increased its holdings in Alder BioPharmaceuticals by 8.4% during the 2nd quarter. Voya Investment Management LLC now owns 22,304 shares of the biopharmaceutical company’s stock worth $255,000 after purchasing an additional 1,734 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its holdings in Alder BioPharmaceuticals by 13.4% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 30,520 shares of the biopharmaceutical company’s stock worth $349,000 after purchasing an additional 3,616 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.
Several research firms have issued reports on ALDR. Cowen began coverage on Alder BioPharmaceuticals in a report on Tuesday, September 26th. They set an “outperform” rating and a $20.00 price objective on the stock. BidaskClub upgraded Alder BioPharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Zacks Investment Research downgraded Alder BioPharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. BMO Capital Markets boosted their price target on Alder BioPharmaceuticals to $26.00 and gave the company an “outperform” rating in a report on Tuesday, January 9th. Finally, Mizuho reiterated a “buy” rating and issued a $29.00 price target (down from $32.00) on shares of Alder BioPharmaceuticals in a report on Tuesday, January 9th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $27.93.
Alder BioPharmaceuticals (NASDAQ:ALDR) last issued its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.21) by $0.29. During the same period in the prior year, the company earned ($0.70) EPS. sell-side analysts forecast that Alder BioPharmaceuticals, Inc. will post -5.14 EPS for the current year.
In related news, insider Mark James Litton sold 16,519 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $10.80, for a total transaction of $178,405.20. Following the completion of the transaction, the insider now directly owns 116,451 shares in the company, valued at approximately $1,257,670.80. The sale was disclosed in a document filed with the SEC, which is available through this link. 10.60% of the stock is owned by corporate insiders.
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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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