Palo Alto Investors LP lifted its position in shares of Alder Biopharmaceuticals Inc (NASDAQ:ALDR) by 0.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,849,832 shares of the biopharmaceutical company’s stock after purchasing an additional 9,586 shares during the quarter. Alder Biopharmaceuticals accounts for about 1.0% of Palo Alto Investors LP’s investment portfolio, making the stock its 23rd biggest holding. Palo Alto Investors LP’s holdings in Alder Biopharmaceuticals were worth $23,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently bought and sold shares of the company. Redmile Group LLC boosted its position in shares of Alder Biopharmaceuticals by 0.4% during the fourth quarter. Redmile Group LLC now owns 6,505,766 shares of the biopharmaceutical company’s stock worth $74,491,000 after buying an additional 29,000 shares during the period. Brown Advisory Inc. boosted its position in shares of Alder Biopharmaceuticals by 50.4% during the fourth quarter. Brown Advisory Inc. now owns 862,585 shares of the biopharmaceutical company’s stock worth $9,877,000 after buying an additional 289,120 shares during the period. AXA boosted its position in shares of Alder Biopharmaceuticals by 9.6% during the fourth quarter. AXA now owns 1,087,209 shares of the biopharmaceutical company’s stock worth $12,448,000 after buying an additional 95,126 shares during the period. Paloma Partners Management Co acquired a new position in shares of Alder Biopharmaceuticals during the fourth quarter worth about $222,000. Finally, Crestline Management LP acquired a new position in shares of Alder Biopharmaceuticals during the fourth quarter worth about $1,519,000.
ALDR opened at $16.30 on Thursday. Alder Biopharmaceuticals Inc has a 52-week low of $8.60 and a 52-week high of $20.00. The stock has a market cap of $1.12 billion, a P/E ratio of -3.29 and a beta of 2.58. The company has a debt-to-equity ratio of 0.57, a quick ratio of 13.30 and a current ratio of 13.31.
Several research analysts have recently weighed in on ALDR shares. BidaskClub cut Alder Biopharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, February 21st. Cowen set a $23.00 price objective on Alder Biopharmaceuticals and gave the stock a “buy” rating in a research report on Monday, February 26th. Zacks Investment Research raised Alder Biopharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Leerink Swann reaffirmed an “outperform” rating on shares of Alder Biopharmaceuticals in a research report on Sunday, March 4th. Finally, Mizuho reiterated a “buy” rating and set a $29.00 target price on shares of Alder Biopharmaceuticals in a report on Wednesday, March 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.33.
In related news, Director Jeffrey T. L. Smith sold 12,161 shares of the company’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $17.85, for a total transaction of $217,073.85. Following the sale, the director now owns 7,952 shares in the company, valued at $141,943.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark James Litton sold 22,727 shares of the company’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $17.84, for a total value of $405,449.68. The disclosure for this sale can be found here. Insiders have sold 47,049 shares of company stock worth $805,303 in the last quarter. 17.40% of the stock is currently owned by corporate insiders.
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 and other serious neurological or inflammatory conditions in the United States, Australia, and Ireland.
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