Aegis Capital Corp. has reiterated a ‘Buy’ rating and $41 price target on the stock of Alder BioPharmaceuticals, Inc. (NASDAQ: ALDR). The report follows the company’s recent presentation of encouraging data for eptinezumab (formerly ALD403) at the 69th Annual American Academy of Neurology (AAN) meeting. Eptinezumab is currently in phase 3 clinical development for the prevention of chronic migraines. The Aegis analyst noted that this data suggests that increases in responder rates and reductions in HIT-6 scores for eptinezumab resulted in improved quality of life for those with chronic migraines. Additional data is expected to be released in the second quarter of 2017.
For more information, visit www.alderbio.com
About Alder BioPharmaceuticals®
Alder BioPharmaceuticals, Inc., is a clinical-stage biopharmaceutical company that discovers, develops and seeks to commercialize genetically engineered therapeutic antibodies with the potential to meaningfully transform current treatment paradigms. Alder’s lead pivotal-stage product candidate, eptinezumab, is being evaluated for migraine prevention. Eptinezumab is a monoclonal antibody that inhibits calcitonin gene-related peptide (CGRP), a protein that is active in mediating the initiation of migraine. Alder is additionally evaluating ALD1910, a preclinical product candidate also in development as a migraine prevention therapy. ALD1910 is a monoclonal antibody that inhibits pituitary adenylate cyclase-activating polypeptide-38 (PACAP-38), another protein that is active in mediating the initiation of migraine. Clazakizumab, Alder’s third program, is a monoclonal antibody candidate that inhibits interleukin-6 and is licensed to Vitaeris, Inc.
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