Stock Traders Buy High Volume of Put Options on Alder Biopharmaceuticals (ALDR)

Alder Biopharmaceuticals Inc (NASDAQ:ALDR) was the target of unusually large options trading on Monday. Traders acquired 1,113 put options on the company. This is an increase of 1,924% compared to the average volume of 55 put options.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Alder Biopharmaceuticals by 5.5% in the 2nd quarter. Vanguard Group Inc. now owns 3,626,573 shares of the biopharmaceutical company’s stock valued at $41,525,000 after purchasing an additional 187,871 shares during the period. Janus Henderson Group PLC bought a new stake in Alder Biopharmaceuticals in the 2nd quarter valued at $36,956,000. State Street Corp boosted its stake in Alder Biopharmaceuticals by 9.4% in the 2nd quarter. State Street Corp now owns 1,944,755 shares of the biopharmaceutical company’s stock valued at $22,267,000 after purchasing an additional 167,642 shares during the period. Emerald Advisers Inc. PA boosted its stake in Alder Biopharmaceuticals by 9.6% in the 4th quarter. Emerald Advisers Inc. PA now owns 1,730,028 shares of the biopharmaceutical company’s stock valued at $19,809,000 after purchasing an additional 151,551 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Alder Biopharmaceuticals by 9.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,661,997 shares of the biopharmaceutical company’s stock valued at $19,030,000 after purchasing an additional 145,503 shares during the period. Institutional investors and hedge funds own 97.22% of the company’s stock.

A number of research analysts recently weighed in on the company. Canaccord Genuity set a $22.00 target price on Alder Biopharmaceuticals and gave the stock a “buy” rating in a report on Friday, January 12th. BMO Capital Markets boosted their target price on Alder Biopharmaceuticals to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. BidaskClub lowered Alder Biopharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 19th. Mizuho reissued a “buy” rating and set a $29.00 target price (down from $32.00) on shares of Alder Biopharmaceuticals in a report on Tuesday, January 9th. Finally, ValuEngine lowered Alder Biopharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $27.93.

Alder Biopharmaceuticals (NASDAQ ALDR) traded up $1.05 on Wednesday, reaching $14.35. The company had a trading volume of 2,480,000 shares, compared to its average volume of 2,080,000. The company has a market cap of $971.69, a P/E ratio of -2.67 and a beta of 2.60. Alder Biopharmaceuticals has a twelve month low of $8.60 and a twelve month high of $24.65.

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Alder Biopharmaceuticals Company Profile

Alder BioPharmaceuticals, Inc, is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize genetically engineered therapeutic antibodies with the potential to meaningfully transform current treatment paradigms. Alder’s lead pivotal-stage product candidate, eptinezumab, is being evaluated for migraine prevention.

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