Pictet Asset Management Ltd Decreased Alder Biopharmaceuticals Inc (NASDAQ:ALDR) Stake By $20.09 Million

April 25, 2018 - By Darrin Black

Pictet Asset Management Ltd decreased its stake in Alder Biopharmaceuticals Inc (NASDAQ:ALDR) by 85.19% based on its latest 2018Q1 regulatory filing with the SEC. Pictet Asset Management Ltd sold 1.67 million shares as the company’s stock declined 1.29% with the market. The institutional investor held 291,120 shares of the health care company at the end of 2018Q1, valued at $3.70 million, down from 1.97M at the end of the previous reported quarter. Pictet Asset Management Ltd who had been investing in Alder Biopharmaceuticals Inc for a number of months, seems to be less bullish one the $880.29M market cap company. The stock decreased 0.58% or $0.075 during the last trading session, reaching $12.975. About 95,233 shares traded. Alder Biopharmaceuticals, Inc. (NASDAQ:ALDR) has declined 46.26% since April 25, 2017 and is downtrending. It has underperformed by 57.81% the S&P500.

Pictet Asset Management Ltd, which manages about $40.54 billion US Long portfolio, upped its stake in Tesaro Inc (NASDAQ:TSRO) by 324,937 shares to 1.05M shares, valued at $59.78M in 2018Q1, according to the filing. It also increased its holding in Synopsys Inc (NASDAQ:SNPS) by 621,878 shares in the quarter, for a total of 2.82M shares, and has risen its stake in Groupon Inc (NASDAQ:GRPN).

Alder Biopharmaceuticals, Inc. (NASDAQ:ALDR) Ratings Coverage

Among 5 analysts covering Alder BioPharmaceuticals (NASDAQ:ALDR), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. Alder BioPharmaceuticals has $26.0 highest and $17 lowest target. $23’s average target is 77.26% above currents $12.975 stock price. Alder BioPharmaceuticals had 9 analyst reports since October 27, 2017 according to SRatingsIntel. The firm has “Buy” rating by BMO Capital Markets given on Monday, January 8. The firm earned “Buy” rating on Tuesday, January 30 by Canaccord Genuity. The rating was maintained by Needham with “Buy” on Wednesday, November 8. The stock of Alder Biopharmaceuticals, Inc. (NASDAQ:ALDR) has “Buy” rating given on Tuesday, January 2 by BMO Capital Markets. The firm has “Buy” rating by Canaccord Genuity given on Thursday, February 8. Canaccord Genuity maintained the stock with “Buy” rating in Friday, January 12 report. The stock has “Buy” rating by RBC Capital Markets on Monday, January 8.

Alder BioPharmaceuticals, Inc. operates as a clinical-stage biopharmaceutical company. The company has market cap of $880.29 million. 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. It currently has negative earnings. The company's lead pivotal-stage product candidate, Eptinezumab, a monoclonal antibody inhibiting calcitonin gene-related peptide, which is in Phase III pivotal trials for the prevention of migraine.

Alder Biopharmaceuticals, Inc. (NASDAQ:ALDR) Ratings Chart

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