Trading Report: Today, State of Wisconsin Investment Board cuts position of Alder BioPharmaceuticals Inc. (ALDR)

Today, State of Wisconsin Investment Board cuts position of Alder BioPharmaceuticals Inc. (ALDR)

State of Wisconsin Investment Board reduced its position in shares of Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) by 32.4% during the third quarter, Holdings Channel reports. The firm owned 152,000 shares of the biopharmaceutical company’s stock after selling 73,000 shares during the period. State of Wisconsin Investment Board owned approximately 0.30% of Alder BioPharmaceuticals worth $4,981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Peregrine Capital Management LLC purchased a new position in Alder BioPharmaceuticals during the third quarter valued at $11,352,000. Emerald Mutual Fund Advisers Trust increased its position in Alder BioPharmaceuticals by 60.1% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 384,137 shares of the biopharmaceutical company’s stock valued at $12,588,000 after buying an additional 144,248 shares during the last quarter. Emerald Advisers Inc. PA increased its position in Alder BioPharmaceuticals by 73.8% in the third quarter. Emerald Advisers Inc. PA now owns 410,415 shares of the biopharmaceutical company’s stock valued at $13,449,000 after buying an additional 174,222 shares during the last quarter. Daiwa SB Investments Ltd. purchased a new position in Alder BioPharmaceuticals during the third quarter valued at $524,000. Finally, BNP Paribas Arbitrage SA increased its position in Alder BioPharmaceuticals by 110.3% in the third quarter. BNP Paribas Arbitrage SA now owns 3,844 shares of the biopharmaceutical company’s stock valued at $126,000 after buying an additional 2,016 shares during the last quarter.

Alder BioPharmaceuticals Inc. (NASDAQ:ALDR) traded up 4.69% during mid-day trading on Friday, hitting $26.80. The company’s stock had a trading volume of 297,293 shares. The company’s 50 day moving average is $28.00 and its 200-day moving average is $29.05. The stock’s market cap is $1.35 billion. Alder BioPharmaceuticals Inc. has a 52-week low of $15.82 and a 52-week high of $38.74.

Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported ($0.70) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.85) by $0.15. During the same period in the previous year, the firm posted ($0.62) earnings per share. On average, equities analysts predict that Alder BioPharmaceuticals Inc. will post ($3.13) EPS for the current fiscal year.

Several research analysts have recently weighed in on the company. Piper Jaffray Cos. set a $47.00 price target on Alder BioPharmaceuticals and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research downgraded Alder BioPharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday. Aegis set a $41.00 price target on Alder BioPharmaceuticals and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. initiated coverage on Alder BioPharmaceuticals in a report on Tuesday, September 13th. They set an “overweight” rating and a $40.00 price objective on the stock. Finally, BMO Capital Markets initiated coverage on Alder BioPharmaceuticals in a report on Thursday, November 10th. They set an “outperform” rating and a $42.00 price objective on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Alder BioPharmaceuticals has a consensus rating of “Buy” and an average target price of $43.38.

In related news, insider Randall C. Schatzman sold 10,000 shares of Alder BioPharmaceuticals stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $32.48, for a total value of $324,800.00. Following the completion of the sale, the insider now owns 124,768 shares of the company’s stock, valued at $4,052,464.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jeffrey T. L. Smith sold 3,000 shares of Alder BioPharmaceuticals stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $32.49, for a total value of $97,470.00. Following the completion of the sale, the vice president now directly owns 3,000 shares of the company’s stock, valued at approximately $97,470. The disclosure for this sale can be found here. 11.50% of the stock is owned by corporate insiders.

Alder BioPharmaceuticals Company Profile

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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