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Fly News Breaks for June 26, 2019
Jun 26, 2019 | 05:49 EDT
After Aldeyra reported the failure of its SOLACE trial in non-infectious anterior uveitis, Citi analyst Yigal Nochomovitz noted that potential use of the drug contributed only about 10% of his peak revenue estimate and removing it from his estimates reduced his price target on the stock to $24 from $28. However, he believes that read-through to its dry eye disease and allergic conjunctivitis programs should be minimal and he views yesterday's selloff as a good buying opportunity. Nochomovitz keeps a Buy rating on Aldeyra shares.
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