Cantor Fitzgerald Thinks Aldeyra Therapeutics’ Stock is Going to Recover


Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Aldeyra Therapeutics (ALDX) today and set a price target of $35. The company’s shares closed yesterday at $7.14, close to its 52-week low of $6.75.

Piros said:

“: We reiterate our OW rating and raise the 12-month price target to $35/share from $30 following the announcement of the successful pivotal ALLEVIATE trial data in allergic conjunctivitis (AC).”

According to TipRanks.com, Piros is ranked 0 out of 5 stars with an average return of -2.1% and a 44.1% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Proteostasis Therapeutics Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Aldeyra Therapeutics with a $30 average price target.

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Based on Aldeyra Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $10.63 million. In comparison, last year the company had a GAAP net loss of $6.95 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.

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