Alder BioPharmaceuticals (ALDR) Sees Large Increase in Short Interest

Alder BioPharmaceuticals (NASDAQ:ALDR) saw a significant growth in short interest during the month of March. As of March 29th, there was short interest totalling 10,860,160 shares, a growth of 17.7% from the March 15th total of 9,228,150 shares. Based on an average daily volume of 2,002,978 shares, the days-to-cover ratio is currently 5.4 days. Currently, 18.6% of the company’s shares are short sold.

Alder BioPharmaceuticals stock opened at $14.35 on Friday. The company has a market cap of $895.55, a price-to-earnings ratio of -2.90 and a beta of 2.54. Alder BioPharmaceuticals has a fifty-two week low of $8.60 and a fifty-two week high of $22.50.

Alder BioPharmaceuticals (NASDAQ:ALDR) last posted its quarterly earnings data on Monday, February 26th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.03) by $0.23. The firm had revenue of $0.94 million for the quarter. During the same quarter last year, the firm posted ($0.97) earnings per share. equities research analysts anticipate that Alder BioPharmaceuticals will post -4.25 earnings per share for the current year.



Several research firms recently issued reports on ALDR. Canaccord Genuity set a $22.00 target price on Alder BioPharmaceuticals and gave the stock a “buy” rating in a research note on Friday, January 12th. BidaskClub raised Alder BioPharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Cowen set a $23.00 target price on Alder BioPharmaceuticals and gave the stock a “buy” rating in a research note on Monday, February 26th. BMO Capital Markets raised their target price on Alder BioPharmaceuticals to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Finally, Mizuho reissued a “buy” rating and issued a $29.00 target price (down from $32.00) on shares of Alder BioPharmaceuticals in a research note on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $28.14.

Several institutional investors and hedge funds have recently modified their holdings of ALDR. Palo Alto Investors LLC boosted its position in shares of Alder BioPharmaceuticals by 2,757.5% in the 4th quarter. Palo Alto Investors LLC now owns 1,840,246 shares of the biopharmaceutical company’s stock worth $21,071,000 after purchasing an additional 1,775,846 shares in the last quarter. Carillon Tower Advisers Inc. bought a new stake in shares of Alder BioPharmaceuticals in the 4th quarter worth approximately $14,676,000. AXA boosted its position in shares of Alder BioPharmaceuticals by 199.9% in the 3rd quarter. AXA now owns 992,083 shares of the biopharmaceutical company’s stock worth $12,153,000 after purchasing an additional 661,253 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Alder BioPharmaceuticals by 272.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 538,629 shares of the biopharmaceutical company’s stock worth $6,598,000 after purchasing an additional 393,872 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in shares of Alder BioPharmaceuticals by 50.4% in the 4th 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. 99.14% of the stock is currently owned by hedge funds and other institutional investors.

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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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