In a report released today, Matthew Caufield from H.C. Wainwright reiterated a Buy rating on Aldeyra Therapeutics, with a price target of $10.00.
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Matthew Caufield has given his Buy rating due to a combination of factors related to Aldeyra Therapeutics’ progress with their dry eye disease candidate, Reproxalap. Despite the extension of the PDUFA target action date to March 2026, the submission of the Clinical Study Report was seen as a procedural step, with no additional issues raised by the FDA. This suggests confidence in the eventual approval of Reproxalap, which has shown a differentiated efficacy profile in treating dry eye symptoms more quickly than standard treatments.
Furthermore, the potential for a co-exclusive license agreement with AbbVie presents significant financial upside, including milestone payments that could reach up to $200 million. The analyst believes that the totality of the data package, including supportive pivotal trials, positions Reproxalap well for FDA approval. This combination of procedural progress, differentiated product profile, and financial opportunity underpins the Buy rating for Aldeyra Therapeutics.
According to TipRanks, Caufield is a 5-star analyst with an average return of 16.0% and a 46.52% success rate. Caufield covers the Healthcare sector, focusing on stocks such as Immunic, LENZ Therapeutics, and Zenas BioPharma, Inc..