Mizuho Securities USA LLC has initiated coverage and issued a ‘Buy’ rating and price target of $32 on shares of Alder BioPharmaceuticals, Inc.’s (NASDAQ: ALDR) stock. Among other highlights, the analyst noted the company’s ‘de-risked’ asset, Eptinezumab, slated for an upcoming phase 3 PROMISE 2 read-out anticipated during the first half of 2018. The company has previously posted positive results from its first pivotal trial, PROMISE 1, which led the analyst to expect comparable results from PROMISE 2, as the studies’ designs are similar.
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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