Jefferies analyst Clara Dong raised the firm’s price target on Aldeyra (ALDX) to $7 from $6 and keeps a Buy rating on the shares ahead of the PDUFA deadline of December 16 set for the resubmitted NDA for Reproxalap. The firm, which considers FDA approval in December as “a moderately low-risk event” with 60% odds of success, notes that Aldeyra maintains an option agreement with AbbVie (ABBV), which could provide the company a “substantial payment” as well as a strategic commercial pathway for Reproxalap.
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