Alder Biopharmaceuticals Inc (NASDAQ:ALDR) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its holdings in Alder Biopharmaceuticals Inc (NASDAQ:ALDR) by 34.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 611,039 shares of the biopharmaceutical company’s stock after selling 322,561 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Alder Biopharmaceuticals were worth $11,524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ALDR. Marshall Wace LLP grew its stake in Alder Biopharmaceuticals by 7,812.2% in the 2nd quarter. Marshall Wace LLP now owns 1,675,804 shares of the biopharmaceutical company’s stock valued at $19,724,000 after acquiring an additional 1,654,624 shares during the last quarter. Artal Group S.A. boosted its stake in shares of Alder Biopharmaceuticals by 70.0% during the 2nd quarter. Artal Group S.A. now owns 850,000 shares of the biopharmaceutical company’s stock worth $10,005,000 after purchasing an additional 350,000 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Alder Biopharmaceuticals during the 2nd quarter worth about $3,230,000. Empire Life Investments Inc. boosted its stake in shares of Alder Biopharmaceuticals by 2,494.2% during the 2nd quarter. Empire Life Investments Inc. now owns 247,333 shares of the biopharmaceutical company’s stock worth $2,911,000 after purchasing an additional 237,799 shares during the last quarter. Finally, Harvest Management LLC acquired a new stake in shares of Alder Biopharmaceuticals during the 3rd quarter worth about $3,023,000.

Several equities research analysts have issued reports on ALDR shares. BidaskClub raised shares of Alder Biopharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 18th. Morgan Stanley raised shares of Alder Biopharmaceuticals from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $15.00 to $18.00 in a research note on Monday, September 16th. UBS Group raised shares of Alder Biopharmaceuticals from a “sell” rating to a “neutral” rating and raised their price target for the stock from $9.00 to $19.50 in a research note on Tuesday, September 17th. Canaccord Genuity cut shares of Alder Biopharmaceuticals from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research note on Monday, September 16th. Finally, Zacks Investment Research raised shares of Alder Biopharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.83.

In other news, Director Jeffrey T. L. Smith sold 32,728 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $18.44, for a total transaction of $603,504.32. Following the transaction, the director now directly owns 27,999 shares in the company, valued at approximately $516,301.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 15.40% of the company’s stock.

Shares of ALDR stock opened at $18.88 on Monday. The firm has a market cap of $1.58 billion, a P/E ratio of -3.88 and a beta of 2.64. Alder Biopharmaceuticals Inc has a 1-year low of $8.39 and a 1-year high of $19.12. The company has a debt-to-equity ratio of 1.74, a current ratio of 8.94 and a quick ratio of 8.94. The firm’s 50-day simple moving average is $18.88 and its 200-day simple moving average is $13.13.

Alder Biopharmaceuticals Company 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 in the United States, Australia, and Ireland. The company's lead product candidate is eptinezumab, a monoclonal antibody (mAb) inhibiting calcitonin gene-related peptide, which is in the late-stage clinical development for the prevention of migraine.

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

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