Wall Street is undervaluing Alder Biopharmaceuticals (ALDR) which stands to outperform larger rivals Amgen, Eli Lilly and Teva Pharmaceutical in migraine drugs, an analyst said Thursday ahead of a key conference on headache treatments.
Needham analyst Danielle Brill maintained her buy rating and 36 price target on Alder stock. On the stock market today, Alder stock climbed 1.2% to 16.55. Alder is set to present data this weekend from a Phase 2 clinical trial of a treatment for frequent episodic migraines. Phase 3 data from the trial dubbed Promise-1 is expected by the end of the month.
