In a report released today, Difei Yang from Mizuho Securities maintained a Hold rating on Alder Biopharmaceuticals (ALDR), with a price target of $18. The company’s shares closed last Monday at $18.63, close to its 52-week high of $18.90.
Yang commented:
“We believe the CVR is cheap — The CVR is contingent upon EMA approval of eptinezumab using current clinical data from two pivotal studies. We believe probability of EU approval is quite high (~80/90%) given 1) the fact that three other sub-q CGRPs have already been approved by EMA, and 2) eptinezumab’s strong Phase 3 clinical data.”
According to TipRanks.com, Yang is a 4-star analyst with an average return of 3.7% and a 38.5% success rate. Yang covers the Healthcare sector, focusing on stocks such as Xeris Pharmaceuticals Inc, Audentes Therapeutics, and Revance Therapeutics.
Alder Biopharmaceuticals has an analyst consensus of Hold, with a price target consensus of $19.80, a 6.2% upside from current levels. In a report issued on September 16, Morgan Stanley also upgraded the stock to Hold with a $18 price target.
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The company has a one-year high of $18.90 and a one-year low of $8.39. Currently, Alder Biopharmaceuticals has an average volume of 2.1M.
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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.
