Alcon’s Stock Boosted by FDA Approval of Innovative Dry Eye Drug TRYPTYR

Stifel Nicolaus analyst Thomas Stephan has maintained their bullish stance on ALC stock, giving a Buy rating today.

Thomas Stephan has given his Buy rating due to a combination of factors surrounding Alcon’s recent developments. The FDA approval of TRYPTYR, a new prescription drug for dry eye disease, is a significant milestone for Alcon. This approval is crucial as the drug addresses both the signs and symptoms of the condition, which is a notable achievement in the field.
TRYPTYR’s unique mechanism of action, which stimulates natural tear production and provides a rapid onset of relief, sets it apart from existing treatments. Despite potential challenges in the market, such as competition and the need for physician education due to side effects, the anticipated growth in sales from TRYPTYR is expected to contribute positively to Alcon’s overall sales growth. These factors collectively support Stephan’s optimistic outlook on Alcon’s stock.

In another report released today, Citi also maintained a Buy rating on the stock with a CHF99.00 price target.