Aldeyra Therapeutics (ALDX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on May 19. Analyst Marc Goodman from Leerink Partners maintained a Buy rating on the stock and has a $10.00 price target.
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Marc Goodman has given his Buy rating due to a combination of factors including Aldeyra Therapeutics’ recent corporate updates and financial position. The company reported its first-quarter results and is closely monitoring the resubmission of reproxalap’s NDA for dry eye disease, following positive outcomes from a recent trial that addressed previous FDA concerns.
Additionally, Aldeyra’s strong cash position, with approximately $90 million available, is expected to support operations through 2027. This financial stability, combined with the anticipation of potential approval for their treatment, underpins Goodman’s optimistic outlook and the Outperform rating with a price target of $10.
In another report released on May 19, 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 $4.940 to $2.420, which is a -51.01% drop .
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