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Fly News Breaks for September 26, 2018
ALDX
Sep 26, 2018 | 13:24 EDT
Stifel analyst Adam Walsh believe Aldeyra's "strong" reproxalap trial results in dry eye disease position the company as "a legitimate player in this blockbuster market." Safety was clean, tolerability was in-line with approved treatments and the early onset of action makes reproxalap look highly differentiated, Walsh added. While Aldeyra likely needs to raise capital to run its two planned dry eye disease Phase 3 trials, Walsh believes the current valuation appears attractive, he tells investors. The analyst raised his price target on Aldeyra shares to $36 from $16 and keeps a Buy rating on the stock.