BMO Capital Starts Alder Biopharm (ALDR) at Outperform

November 10, 2016 4:18 PM EST
Get Alerts ALDR Hot Sheet
Price: $21.00 -2.55%

Rating Summary:
    9 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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BMO Capital initiates coverage on Alder Biopharm (NASDAQ: ALDR) with a Outperform rating and a price target of $42.00.

Analyst Matthew Luchini commented, " Our Outperform rating is based on our belief that Alder's lead drug ALD403 is well positioned to become a blockbuster treatment for migraine prevention. We believe Phase II data points to a competitive efficacy and safety profile, while quarterly dosing offers a potential competitive advantage versus every other week or once monthly competitors. We believe ALD403’s dosing advantage could be expanded with a potential SC or IM formulation, upside to our model. Our $2.1bn peak sales estimate (67% risk-adjusted) is limited to the US and EU leaving ROW as upside."

For an analyst ratings summary and ratings history on Alder Biopharm click here. For more ratings news on Alder Biopharm click here.

Shares of Alder Biopharm closed at $29.50 yesterday.

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