Leerink Partners analyst Marc Goodman has maintained their bullish stance on ALDX stock, giving a Buy rating yesterday.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Marc Goodman has given his Buy rating due to a combination of factors surrounding Aldeyra Therapeutics’ ongoing developments. The company has shown promise with its positive results from the second resubmission chamber trial for reproxalap in dry eye disease, which could potentially satisfy the FDA’s requirements despite the challenges faced in the field trial. The management’s optimism about the NDA resubmission, expected in mid-2025, and the anticipated six-month review period further support this positive outlook.
However, Goodman acknowledges the mixed reactions from investors, who remain cautious about the approval prospects based solely on the chamber trial results. The upcoming Type A meeting with the FDA is crucial, as it will address any remaining concerns and pave the way for potential approval. Additionally, the possibility of an opt-in to a co-development and co-commercialization agreement with AbbVie adds a strategic advantage, reinforcing the Buy rating despite the uncertainties.
Goodman covers the Healthcare sector, focusing on stocks such as Axsome Therapeutics, Alkermes, and Jazz Pharmaceuticals. According to TipRanks, Goodman has an average return of 3.1% and a 44.81% success rate on recommended stocks.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $10.00 price target.