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Fly News Breaks for June 21, 2016
ALDR
Jun 21, 2016 | 15:22 EDT
Jefferies analyst Brian Abrahams believes weakness in Alder is due to concerns from a recent Cell publication citing theoretical risks of CV side effects from CGRP antagonists such as ALD403. The analyst said CV concerns have always been a theoretical risk with the CGRP class and there is nothing new in the Cell article. Abrahams views the weakness in Alder as a compelling buying opportunity and said today's downside is an overreaction. The analyst rates Alder a Buy with a $61 price target.
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