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Fly News Breaks for February 1, 2016
AMGN, ALDR
Feb 1, 2016 | 08:25 EDT
Leerink analyst Joseph Schwartz recommends using the Friday's pullback in shares of Alder Biopharmaceuticals (ALDR) as a buying opportunity. Amgen's (AMGN) commentary about its Phase 3 pivotal program enrolling "extremely well" will have a minimal impact on Alder's ongoing late-stage development of anti-CGRP antibody ALD-403, Schwartz tells investors in a research note. The analyst thinks the Street is overly occupied with which CGRP antibody is going to be first to market. He reiterates an Outperform rating on Alder.
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