Alder BioPharma (ALDR): EPO Decision Only Impacts Valuation By $1-$2 - BMO
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BMO Capital analyst, Matthew Luchini, reiterated his Outperform rating on shares of Alder Biopharm (NASDAQ: ALDR) despite shares being under pressure following the European Patent Office's (EPO) oral decision, which revoked Teva's patent claims related to CGRP antagonist antibodies for the treatment of migraine but maintained and narrowed method of use claims.
The analyst expects Alder to appeal the decision but the analyst believes there the impact of a 5%-10% royalty on EU sales during the patent period (expires 2026) would result in only a $1-$2 impact on valuation.
No change to the price target of $42.
Shares of Alder Biopharm closed at $26.45 yesterday.
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