Geode Capital Management LLC grew its position in shares of Alder BioPharmaceuticals (NASDAQ:ALDR) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 559,850 shares of the biopharmaceutical company’s stock after purchasing an additional 43,864 shares during the period. Geode Capital Management LLC owned approximately 0.83% of Alder BioPharmaceuticals worth $6,410,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Ascend Capital LLC lifted its stake in Alder BioPharmaceuticals by 33.8% during the fourth quarter. Ascend Capital LLC now owns 674,494 shares of the biopharmaceutical company’s stock worth $7,723,000 after purchasing an additional 170,319 shares in the last quarter. Carillon Tower Advisers Inc. acquired a new position in Alder BioPharmaceuticals during the fourth quarter worth $14,676,000. Brown Advisory Inc. lifted its stake in 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 purchasing an additional 289,120 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in Alder BioPharmaceuticals by 11.4% during the fourth quarter. Pinnacle Associates Ltd. now owns 1,348,630 shares of the biopharmaceutical company’s stock worth $15,442,000 after purchasing an additional 138,550 shares in the last quarter. Finally, Virtus Fund Advisers LLC acquired a new position in Alder BioPharmaceuticals during the fourth quarter worth $368,000. Institutional investors own 99.14% of the company’s stock.
A number of research analysts have commented on the company. BidaskClub upgraded Alder BioPharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday. Mizuho restated a “buy” rating and set a $29.00 price target on shares of Alder BioPharmaceuticals in a research note on Wednesday, March 28th. BMO Capital Markets restated a “buy” rating and set a $22.00 price target on shares of Alder BioPharmaceuticals in a research note on Wednesday, January 3rd. Zacks Investment Research upgraded Alder BioPharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Finally, Leerink Swann restated an “outperform” rating on shares of Alder BioPharmaceuticals in a research note on Sunday, March 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $28.14.
Alder BioPharmaceuticals (NASDAQ:ALDR) last announced its quarterly earnings data on Monday, February 26th. The biopharmaceutical company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.23. The company had revenue of $0.94 million during the quarter. During the same quarter in the prior year, the firm posted ($0.97) EPS. analysts anticipate that Alder BioPharmaceuticals will post -4.25 EPS for the current year.
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About Alder BioPharmaceuticals
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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