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

Alder Biopharmaceuticals Inc (NASDAQ:ALDR) saw unusually large options trading on Monday. Stock investors purchased 1,113 put options on the company. This represents an increase of 1,924% compared to the average daily volume of 55 put options.

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

Several large investors have recently added to or reduced their stakes in ALDR. Wells Fargo & Company MN lifted its position in shares of Alder Biopharmaceuticals by 33.0% during the second quarter. Wells Fargo & Company MN now owns 135,071 shares of the biopharmaceutical company’s stock worth $1,547,000 after purchasing an additional 33,526 shares during the last quarter. Teachers Advisors LLC lifted its position in shares of Alder Biopharmaceuticals by 3.8% during the second quarter. Teachers Advisors LLC now owns 84,705 shares of the biopharmaceutical company’s stock worth $970,000 after purchasing an additional 3,091 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of Alder Biopharmaceuticals by 15.6% during the second quarter. TIAA CREF Investment Management LLC now owns 165,344 shares of the biopharmaceutical company’s stock worth $1,893,000 after purchasing an additional 22,277 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Alder Biopharmaceuticals by 287.2% during the second quarter. Ameriprise Financial Inc. now owns 619,938 shares of the biopharmaceutical company’s stock worth $7,098,000 after purchasing an additional 459,821 shares during the last quarter. Finally, Nationwide Fund Advisors lifted its position in shares of Alder Biopharmaceuticals by 25.6% during the second quarter. Nationwide Fund Advisors now owns 58,137 shares of the biopharmaceutical company’s stock worth $666,000 after purchasing an additional 11,853 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

Alder Biopharmaceuticals (NASDAQ:ALDR) traded up $1.05 during trading hours on Wednesday, hitting $14.35. The stock had a trading volume of 2,481,426 shares, compared to its average volume of 2,080,000. Alder Biopharmaceuticals has a fifty-two week low of $8.60 and a fifty-two week high of $24.65. The company has a market capitalization of $971.69, a P/E ratio of -2.67 and a beta of 2.60.

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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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