Swiss National Bank boosted its position in Alder Biopharmaceuticals Inc (NASDAQ:ALDR) by 12.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 109,642 shares of the biopharmaceutical company’s stock after buying an additional 12,300 shares during the period. Swiss National Bank’s holdings in Alder Biopharmaceuticals were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in ALDR. Pinnacle Associates Ltd. acquired a new position in Alder Biopharmaceuticals in the 3rd quarter valued at $14,823,000. AXA raised its holdings in Alder Biopharmaceuticals by 199.9% in the 3rd quarter. AXA now owns 992,083 shares of the biopharmaceutical company’s stock valued at $12,153,000 after acquiring an additional 661,253 shares in the last quarter. Schroder Investment Management Group acquired a new position in Alder Biopharmaceuticals in the 3rd quarter valued at $6,721,000. Dimensional Fund Advisors LP raised its holdings in Alder Biopharmaceuticals by 272.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 538,629 shares of the biopharmaceutical company’s stock valued at $6,598,000 after acquiring an additional 393,872 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Alder Biopharmaceuticals by 38.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 857,871 shares of the biopharmaceutical company’s stock valued at $10,509,000 after acquiring an additional 237,933 shares in the last quarter. 99.14% of the stock is owned by hedge funds and other institutional investors.
Alder Biopharmaceuticals Inc (NASDAQ ALDR) opened at $15.25 on Wednesday. Alder Biopharmaceuticals Inc has a fifty-two week low of $8.60 and a fifty-two week high of $23.80.
Several equities analysts have weighed in on the company. Canaccord Genuity set a $22.00 price objective on Alder Biopharmaceuticals and gave the company a “buy” rating in a report on Friday, January 12th. Zacks Investment Research cut Alder Biopharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. BMO Capital Markets lifted their price objective on Alder Biopharmaceuticals to $26.00 and gave the company an “outperform” rating in a report on Tuesday, January 9th. Mizuho reaffirmed a “buy” rating and issued a $29.00 price objective (down from $32.00) on shares of Alder Biopharmaceuticals in a report on Tuesday, January 9th. Finally, Leerink Swann reaffirmed an “outperform” rating on shares of Alder Biopharmaceuticals in a report on Sunday, March 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. Alder Biopharmaceuticals currently has an average rating of “Buy” and an average target price of $28.14.
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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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