Mizuho Securities USA LLC has reiterated its ‘Buy’ rating and price target of $32 on shares of Alder BioPharmaceuticals, Inc.’s (NASDAQ: ALDR) stock after Mizuho received an email from the company reviewing the 18th Congress of the International Headache Society (IHC) meeting. The email included incremental data points regarding Alder’s lead pivotal-stage product candidate, eptinezumab. The analyst believes that the IV formulation for eptinezumab is a positive distinction from other calcitonin gene-related peptide (CGRP) products in late stage development, based on its reimbursement and potentially improved compliance.
For more information, visit www.AlderBio.com
About Alder BioPharmaceuticals, Inc.
Alder BioPharmaceuticals, Inc. is a clinical-stage biopharmaceutical company committed to transforming the treatment paradigm for patients with migraine and other serious neurological or inflammatory conditions. Leveraging its pioneering monoclonal antibody technologies, Alder discovers and develops novel therapeutic antibodies designed to deliver highly differentiated, best-in-class clinical profiles. Alder’s lead pivotal-stage product candidate, eptinezumab, is being evaluated for migraine prevention. Eptinezumab is a monoclonal antibody administered quarterly via infusion that allows for 100% of the dose available to selectively and potently inhibit the 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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