Needham Sticks to Its Buy Rating for Alder Biopharmaceuticals


In a report released today, Danielle Brill from Needham maintained a Buy rating on Alder Biopharmaceuticals (NASDAQ: ALDR), with a price target of $26. The company’s shares opened today at $14.70.

Brill said:

“Alder had a busy 1Q with new CEO, CMO, and COO hires. After a thorough internal review, the team now expects Epti BLA submission to be completed in 1Q19 (was 2H18). Importantly, all gating CMC and clinical activities for BLA filing remain on track. As such, we moved our estimated epti launch from 4Q19 to 1Q20. We don’t expect the slight delay to market to significantly impact overall uptake. Epti’s differentiated profile (rapid onset, deep magnitude of effect) was highlighted at the AAN conference in April. We believe epti is sufficiently differentiated from competitors and think it can capture ~15% of the CGRP migraine prevention market (~$1.1B peak U.S. sales). Maintain BUY.”

Brill has an average return of 9.5% when recommending Alder Biopharmaceuticals.

According to TipRanks.com, Brill is ranked #597 out of 4787 analysts.

Currently, the analyst consensus on Alder Biopharmaceuticals is Strong Buy and the average price target is $22.67, representing a 54.2% upside.

In a report released today, BMO Capital also maintained a Buy rating on the stock with a $21 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $20 and a one-year low of $8.60. Currently, Alder Biopharmaceuticals has an average volume of 1.29M.

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Alder Biopharmaceuticals, Inc. is a clinical-stage biopharmaceutical company, which discovers, develops, and commercializes various therapeutic antibodies. Its pipeline includes ALD403, Clazakizumab and ALD1613. The company was founded by Randall C. Schatzman, Mark J. Litton, and John A. Latham in January 2004 and is headquartered in Bothell, WA.

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