BTIG analyst Thomas Shrader has maintained their bullish stance on ALDX stock, giving a Buy rating yesterday.
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Thomas Shrader has given his Buy rating due to a combination of factors emphasizing Aldeyra Therapeutics’ progress and potential. Despite the FDA’s extension of the PDUFA target action date for the NDA of Reproxalap, the added Clinical Study Report from the dry eye trial enhances the regulatory clarity regarding the submission. Importantly, the extension was classified as a major amendment, but no safety concerns or additional issues were raised by the FDA, indicating confidence in the drug’s overall data package.
A noteworthy aspect supporting the rating is Aldeyra’s development of systemic RASP inhibitors targeting significant unmet needs in CNS diseases like Parkinson’s Disease and Multiple Sclerosis. Early data showing potential improvements in dopamine regulation and binding oxidized lipids associated with ALS outlook provide promising avenues for future progress. Along with a favorable partnership option with AbbVie and robust valuation models like discounted cash flow analysis, Shrader views ALDX as a compelling investment opportunity.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $10.00 price target.
ALDX’s price has also changed dramatically for the past six months – from $3.020 to $5.310, which is a 75.83% increase.