Schwab Charles Investment Management Inc. Boosts Position in Alder BioPharmaceuticals, Inc. (ALDR)

Schwab Charles Investment Management Inc. boosted its stake in shares of Alder BioPharmaceuticals, Inc. (NASDAQ:ALDR) by 33.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 260,434 shares of the biopharmaceutical company’s stock after buying an additional 64,988 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Alder BioPharmaceuticals were worth $3,191,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ALDR. Russell Investments Group Ltd. grew its position in Alder BioPharmaceuticals by 7.2% during the second quarter. Russell Investments Group Ltd. now owns 42,416 shares of the biopharmaceutical company’s stock valued at $486,000 after buying an additional 2,837 shares during the period. Rhumbline Advisers grew its position in Alder BioPharmaceuticals by 8.5% during the second quarter. Rhumbline Advisers now owns 61,416 shares of the biopharmaceutical company’s stock valued at $703,000 after buying an additional 4,825 shares during the period. SG Americas Securities LLC grew its position in Alder BioPharmaceuticals by 109.4% during the second quarter. SG Americas Securities LLC now owns 15,580 shares of the biopharmaceutical company’s stock valued at $178,000 after buying an additional 8,140 shares during the period. Bank of New York Mellon Corp grew its position in Alder BioPharmaceuticals by 10.4% during the second quarter. Bank of New York Mellon Corp now owns 232,287 shares of the biopharmaceutical company’s stock valued at $2,659,000 after buying an additional 21,886 shares during the period. Finally, Legal & General Group Plc grew its position in Alder BioPharmaceuticals by 2.6% during the second quarter. Legal & General Group Plc now owns 15,496 shares of the biopharmaceutical company’s stock valued at $177,000 after buying an additional 400 shares during the period. Institutional investors own 96.80% of the company’s stock.

In other Alder BioPharmaceuticals news, insider Mark James Litton sold 16,519 shares of the stock in a transaction dated Monday, November 13th. The shares were 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 owns 116,451 shares in the company, valued at $1,257,670.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.60% of the stock is owned by company insiders.

Several research firms recently weighed in on ALDR. Canaccord Genuity set a $22.00 price target on shares of Alder BioPharmaceuticals and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets increased their price target on shares of Alder BioPharmaceuticals to $26.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. BidaskClub lowered shares of Alder BioPharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 19th. Mizuho restated a “buy” rating and set a $29.00 price target (down previously from $32.00) on shares of Alder BioPharmaceuticals in a research report on Tuesday, January 9th. Finally, Zacks Investment Research lowered shares of Alder BioPharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $27.93.

Alder BioPharmaceuticals, Inc. (ALDR) opened at $17.85 on Monday. The firm has a market cap of $1,211.00, a PE ratio of -3.33 and a beta of 2.48. Alder BioPharmaceuticals, Inc. has a 1 year low of $8.60 and a 1 year high of $25.45.

Alder BioPharmaceuticals (NASDAQ:ALDR) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.92) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.29. During the same quarter in the prior year, the business posted ($0.70) EPS. equities analysts expect that Alder BioPharmaceuticals, Inc. will post -5.14 earnings per share for the current fiscal year.

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About Alder BioPharmaceuticals

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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