Alder Biopharm (ALDR) Weakness Creates Buying Opportunity - Jefferies
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Jefferies analyst Brian Abrahams said weakness in Alder Biopharm (NASDAQ: ALDR) following study data creates a buying opportunity. The firm reiterated a Buy rating and price target of $57.
Abrahams commented, "New data from AMGN's second registrational study showed consistent (and if anything, improved) efficacy in migraine reductions without any safety signals-- reaffirming the potential of the CGRP mAb class and further de-risking the potential for success of ALDR's eptinezumab (ALD403). Continue to view '403's promise and oppty as significantly underappreciated in ALDR shares and see a particularly attractive buying oppty after today's weakness."
Shares of Alder Biopharm closed at $29.58 yesterday.
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