Alder Biopharmaceuticals Inc (ALDR) Holdings Reduced by Pinnacle Associates Ltd.

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Pinnacle Associates Ltd. decreased its position in Alder Biopharmaceuticals Inc (NASDAQ:ALDR) by 13.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,125,185 shares of the biopharmaceutical company’s stock after selling 175,625 shares during the period. Pinnacle Associates Ltd. owned approximately 1.66% of Alder Biopharmaceuticals worth $17,778,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quantitative Systematic Strategies LLC grew its position in Alder Biopharmaceuticals by 25.0% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 13,115 shares of the biopharmaceutical company’s stock worth $207,000 after purchasing an additional 2,626 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Alder Biopharmaceuticals by 14.1% in the 1st quarter. Cubist Systematic Strategies LLC now owns 27,614 shares of the biopharmaceutical company’s stock worth $351,000 after purchasing an additional 3,405 shares during the last quarter. New York State Common Retirement Fund grew its position in Alder Biopharmaceuticals by 7.2% in the 1st quarter. New York State Common Retirement Fund now owns 68,400 shares of the biopharmaceutical company’s stock worth $869,000 after purchasing an additional 4,600 shares during the last quarter. Legal & General Group Plc grew its position in Alder Biopharmaceuticals by 31.1% in the 1st quarter. Legal & General Group Plc now owns 25,547 shares of the biopharmaceutical company’s stock worth $324,000 after purchasing an additional 6,060 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Alder Biopharmaceuticals in the 2nd quarter worth about $107,000.

In related news, insider John A. Latham sold 24,999 shares of the stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $15.48, for a total transaction of $386,984.52. Following the completion of the sale, the insider now directly owns 268,692 shares of the company’s stock, valued at $4,159,352.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey T. L. Smith sold 5,040 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $19.54, for a total transaction of $98,481.60. Following the sale, the director now directly owns 5,871 shares of the company’s stock, valued at $114,719.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,087 shares of company stock valued at $1,785,094. Company insiders own 17.40% of the company’s stock.

Several research analysts have commented on ALDR shares. BidaskClub cut shares of Alder Biopharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 12th. Needham & Company LLC began coverage on shares of Alder Biopharmaceuticals in a report on Wednesday, June 27th. They issued a “buy” rating and a $28.00 price objective for the company. Goldman Sachs Group began coverage on shares of Alder Biopharmaceuticals in a report on Tuesday, April 24th. They issued a “neutral” rating and a $17.00 price objective for the company. Mizuho reiterated a “buy” rating and issued a $29.00 price objective on shares of Alder Biopharmaceuticals in a report on Thursday, June 7th. Finally, Zacks Investment Research cut shares of Alder Biopharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $23.60.

Alder Biopharmaceuticals stock opened at $18.60 on Friday. The company has a quick ratio of 10.88, a current ratio of 10.88 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $1.31 billion, a PE ratio of -3.76 and a beta of 2.66. Alder Biopharmaceuticals Inc has a 12-month low of $8.60 and a 12-month high of $20.87.

Alder Biopharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($1.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.05) by $0.01. sell-side analysts anticipate that Alder Biopharmaceuticals Inc will post -4.91 EPS for the current fiscal year.

Alder Biopharmaceuticals Profile

Alder BioPharmaceuticals, Inc operates as a clinical-stage biopharmaceutical company. It discovers, develops, and commercializes therapeutic antibodies to transform the treatment paradigm for patients with migraine and other serious neurological or inflammatory conditions in the United States, Australia, and Ireland.

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

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