Leerink Partners analyst Marc Goodman maintained a Buy rating on Aldeyra Therapeutics (ALDX – Research Report) on March 5 and set a price target of $10.00.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge-fund level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Marc Goodman has given his Buy rating due to a combination of factors, including Aldeyra Therapeutics’ promising developments and financial stability. The company is anticipating a significant regulatory milestone with the upcoming PDUFA date for reproxalap in dry-eye disease, which could lead to a collaboration with Abbvie for co-development and commercialization. This potential partnership highlights the strategic value of Aldeyra’s pipeline.
Additionally, Aldeyra is advancing its pipeline with several key studies, including Phase 2 trials for ADX-629 in Sjögren-Larsson Syndrome and alcohol-associated hepatitis, as well as a planned Phase 2/3 study for ADX-2191 in retinitis pigmentosa. The company is also preparing to submit IND applications for new treatments in 2025. Financially, Aldeyra is in a strong position with approximately $101 million in cash, which is expected to support operations until 2027, providing a solid foundation for future growth and development.
In another report released on March 3, H.C. Wainwright also reiterated a Buy rating on the stock with a $10.00 price target.