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Aldeyra price target raised to $36 from $16 at Stifel. 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.

Aldeyra price target raised to $35 from $27 at Canaccord. Canaccord analyst John Newman raised his price target on Aldeyra shares to $35 from $27 after the company's Phase 2b trial of topical ocular reproxalap in patients with dry eye disease achieved statistically significant improvement against vehicle for all imputation techniques, which he called a "major positive." The very rapid onset of action is differentiating, said the analyst, who expects positive Phase 3 dry eye data given the Phase 2b results. He maintains a Buy rating on Aldeyra shares.

Aldeyra price target raised to $30 from $23 at Cantor Fitzgerald. Cantor Fitzgerald analyst Elemor Piros raised Overweight rated Aldeyra's price target to $30 from $23 following positive Phase 2b dry eye data with reproxalap. The analyst believes the results signal the potential for strategic partnership and M&A activity.