Analyst Matthew Caufield of H.C. Wainwright reiterated a Buy rating on Aldeyra Therapeutics (ALDX – Research Report), with a price target of $10.00.
Matthew Caufield has given his Buy rating due to a combination of factors related to Aldeyra Therapeutics’ promising developments. The primary focus is on reproxalap, a novel small molecule under FDA review for treating dry eye disease, with a significant PDUFA date set for April 2, 2025. Despite a recent decline in stock value, Caufield sees no fundamental changes to the platform and believes the supportive data package justifies optimism for approval.
Moreover, the potential collaboration with AbbVie presents a substantial opportunity. AbbVie has an option agreement to develop and commercialize reproxalap in the US, which could enhance its existing Restasis franchise. This partnership could bring significant financial benefits to Aldeyra, including upfront payments and milestone rewards. Additionally, the approval of reproxalap could validate Aldeyra’s broader RASP pipeline, offering further growth potential in various therapeutic areas.
According to TipRanks, Caufield is an analyst with an average return of -13.3% and a 28.78% success rate. Caufield covers the Healthcare sector, focusing on stocks such as 4D Molecular Therapeutics, Opus Genetics, and Opthea Limited Sponsored ADR.