Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Aldeyra Therapeutics (NASDAQ: ALDX) today and set a price target of $23. The company’s shares opened today at $7.80.
Piros commented:
“We reiterate our OW rating. Aldeyra develops a platform of aldehyde trap therapies for the potential treatment of inflammation in ocular diseases and inborn errors of aldehyde metabolism. We believe Aldeyra is poised for several near-term catalysts over the next 12 months. Valuation Summary We arrive at our 12-month price target of $23/share by assessing the after-tax, risk- adjusted NPV of future cash flows from reproxalap (ADX-102).”
According to TipRanks.com, Piros ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -3.8% and a 48.4% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
Aldeyra Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $25.
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Based on Aldeyra Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $9.05 million. In comparison, last year the company had a GAAP net loss of $5.31 million.
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Aldeyra Therapeutics, Inc. operates as a biotechnology company. It primarily focuses on the development of new products for immune-mediated, inflammatory, orphan and other diseases that are thought to be caused in part by naturally occurring toxic chemical species known as free aldehydes.
