In a report released yesterday, Charles Duncan from Cantor Fitzgerald reiterated a Hold rating on Alder Biopharmaceuticals (ALDR), with a price target of $14. The company’s shares closed yesterday at $12.24.
“. We reiterate our Neutral rating and $14 PT on ALDR. Today (5/2), Alder reported 1Q19 earnings, including cash and STI, of $498.5M. With the BLA submission of eptinezumab (epti’) accepted by the FDA and with a PDUFA date set for February 2020, the company expects to launch the drug by early next year (1Q20), and we believe its cash on hand will enable it to fund building out a “right-sized” neurology/headache-specialist focused sales force, as well as other launch prep this year; it started with the recent hiring of a chief commercial officer.”
According to TipRanks.com, Duncan is a 4-star analyst with an average return of 6.2% and a 48.3% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Crinetics Pharmaceuticals Inc, and KalVista Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Alder Biopharmaceuticals with a $18.40 average price target.
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Based on Alder Biopharmaceuticals’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $80.09 million. In comparison, last year the company had a GAAP net loss of $87.03 million.
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Alder Biopharmaceuticals, Inc. is a clinical-stage biopharmaceutical company, which discovers, develops and commercializes various therapeutic antibodies. Its product portfolio includes ALD1910, a preclinical product candidate also in development as a migraine prevention therapy.