Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Aldeyra Therapeutics (NASDAQ:ALDX) and Regulus (NASDAQ:RGLS).
Aldeyra Therapeutics (ALDX)
In a report released today, John Newman from Canaccord Genuity maintained a Buy rating on Aldeyra Therapeutics, with a price target of $27. The company’s shares opened today at $7.55.
Newman commented:
“We are expecting a late 3Q18/early 4Q18 data update for the Phase 2b dry eye disease trial, which we are expecting to show changes across multiple standard signs and symptom endpoints. We remind investors that while statistical significance over vehicle (superiority) would be ideal, the trial is not powered to detect superiority since vehicle has not previously been tested against reproxalap. However, since the vehicle is an “aqueous” formulation, we do not expect significant activity from the vehicle arm. Furthermore, the data update would help us assess the proper dosing and endpoints (symptom and sign) for the Phase 3 trial. We remind investors that the FDA is likely to look for one replicated sign and one replicated symptom improvement as basis of approval.”
According to TipRanks.com, Newman is a 5-star analyst with an average return of 17.1% and a 45.4% success rate. Newman covers the Healthcare sector, focusing on stocks such as Hutchison China MediTech Ltd, Synergy Pharmaceuticals Inc, and Atara Biotherapeutics.
Aldeyra Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $25, implying a 231.1% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $23 price target.
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Regulus (RGLS)
In a report released today, Alan Carr from Needham maintained a Hold rating on Regulus. The company’s shares opened today at $0.24, close to its 52-week low of $0.20.
Carr said:
“Regulus published 2Q18 financial results and we spoke w/ mgmt for an update. As a reminder, Regulus announced in Jul 2018 suspension of the Phase 1 trial of RGLS4326 and suspension of enrollment in the Phase 2 trial of RG-012. The former was tied to a mouse toxicity signal and the latter is an effort to conserve resources while attempting to revise terms of the collaboration w/ Sanofi. A new RGLS4326 mouse toxicology study will begin in 2H18. No timelines around renegotiation of agreement w/ Sanofi, but discussions are reportedly underway. We believe the microRNA platform is likely to be productive in the long-term, but we await proof of concept w/ a current pipeline program. Maintain HOLD.”
According to TipRanks.com, Carr is a 3-star analyst with an average return of 3.6% and a 41.8% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Rhythm Pharmaceuticals Inc, and Lexicon Pharmaceuticals.
Currently, the analyst consensus on Regulus is a Hold with an average price target of $0.75.
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