The LMR Partners LLP Takes Position in Alder BioPharmaceuticals Inc. (ALDR)

The LMR Partners LLP Takes Position in Alder BioPharmaceuticals Inc. (ALDR)

LMR Partners LLP bought a new position in shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,345 shares of the biopharmaceutical company’s stock, valued at approximately $483,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALDR. Prudential Financial Inc. increased its position in shares of Alder BioPharmaceuticals by 12.5% in the first quarter. Prudential Financial Inc. now owns 104,100 shares of the biopharmaceutical company’s stock worth $2,549,000 after buying an additional 11,600 shares during the period. BlackRock Fund Advisors increased its position in shares of Alder BioPharmaceuticals by 4.2% in the first quarter. BlackRock Fund Advisors now owns 1,136,823 shares of the biopharmaceutical company’s stock worth $27,841,000 after buying an additional 45,908 shares during the period. JPMorgan Chase & Co. increased its position in shares of Alder BioPharmaceuticals by 11.4% in the first quarter. JPMorgan Chase & Co. now owns 349,482 shares of the biopharmaceutical company’s stock worth $8,559,000 after buying an additional 35,883 shares during the period. State Street Corp increased its position in shares of Alder BioPharmaceuticals by 20.2% in the first quarter. State Street Corp now owns 1,195,800 shares of the biopharmaceutical company’s stock worth $29,282,000 after buying an additional 200,566 shares during the period. Finally, Pictet Asset Management Ltd. increased its position in shares of Alder BioPharmaceuticals by 32.1% in the first quarter. Pictet Asset Management Ltd. now owns 79,800 shares of the biopharmaceutical company’s stock worth $1,515,000 after buying an additional 19,400 shares during the period.

Shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) traded down 5.48% during mid-day trading on Wednesday, reaching $28.62. 469,008 shares of the company’s stock traded hands. Alder BioPharmaceuticals Inc. has a 12-month low of $15.82 and a 12-month high of $39.43. The company’s market cap is $1.44 billion. The firm has a 50-day moving average of $32.22 and a 200 day moving average of $28.74.

Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings results on Tuesday, July 26th. The biopharmaceutical company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by $0.04. The firm had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $1.14 million. During the same quarter last year, the firm posted ($0.46) earnings per share. The company’s quarterly revenue was up 112900.0% on a year-over-year basis. Equities analysts forecast that Alder BioPharmaceuticals Inc. will post ($3.33) EPS for the current year.

ALDR has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Alder BioPharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, June 28th. Jefferies Group reissued a “buy” rating on shares of Alder BioPharmaceuticals in a research report on Thursday, June 30th. Brean Capital reaffirmed a “positive” rating and set a $45.00 target price on shares of Alder BioPharmaceuticals in a report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. started coverage on shares of Alder BioPharmaceuticals in a report on Tuesday, September 13th. They set an “overweight” rating and a $40.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average target price of $45.00.

In related news, insider Randall C. Schatzman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $28.08, for a total value of $280,800.00. Following the sale, the insider now directly owns 124,768 shares of the company’s stock, valued at $3,503,485.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeffrey T. L. Smith sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $32.49, for a total transaction of $97,470.00. Following the completion of the sale, the vice president now directly owns 3,000 shares in the company, valued at $97,470. The disclosure for this sale can be found here. 11.50% of the stock is currently owned by corporate insiders.

About Alder BioPharmaceuticals

Alder Biopharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company discovers, develops and focuses to commercialize therapeutic antibodies with the potential to transform current treatment paradigms. The Company has developed an antibody platform designed to select antibodies that have the potential to maximize efficacy, as well as speed of onset and durability of therapeutic response.

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