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 that highlight Aldeyra Therapeutics’ potential in addressing unmet medical needs. The company is actively pursuing an SPA for a single-trial approval of ADX-2191, a promising treatment for primary vitreoretinal lymphoma (PVRL), a rare cancer with no FDA-approved therapies. This initiative could position Aldeyra as a leader in a niche market with significant disease burden and limited competition.
Additionally, the favorable safety profile of ADX-2191, as demonstrated in related indications, supports its potential success. The drug has already received FDA Orphan Drug Designation, which could expedite its path to market. Furthermore, Aldeyra’s ongoing efforts with systemic RASP scavenging and the resubmission of the Reproxalap NDA for dry eye disease treatment indicate a strategic approach to expanding their therapeutic portfolio. These developments, combined with a solid valuation approach using DCF analysis, underpin Shrader’s optimistic outlook on the company’s future prospects.
In another report released yesterday, JonesTrading also reiterated a Buy rating on the stock with a $6.00 price target.
ALDX’s price has also changed moderately for the past six months – from $5.020 to $3.870, which is a -22.91% drop .