H.C. Wainwright Starts Aldeyra Therapeutics (ALDX) at Buy
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H.C. Wainwright initiates coverage on Aldeyra Therapeutics (NASDAQ: ALDX) with a Buy rating and a price target of $18.00.
Analyst Corey Davis commented, "As our title implies, we think few on Wall Street appreciate just how large a role that aldehydes play in myriad different disorders and hence how large the market could be for Aldeyra's NS2 "aldehyde trap". Aldeyra figured out the target, the solution, and now has three successful Phase 2 trials to boot. Aldehydes are a heterogenous group of compounds that are ubiquitous in living organisms. But since they are toxic (causing oxidative stress and inflammation), natural enzymes normally degrade them. However, when certain systems malfunction, aldehydes can accumulate and cause an array of problems. NS2 "traps" these toxic aldehydes and shuttles them to the lysosome for degradation thereby enhancing the body's normal elimination mechanism."
- Sjorgren-Larsson Syndrome.
- Allergic conjunctivitis would be huge market.
- NS2 works in uveitis too.
- Succinic semi-aldehyde dehydrogenase (SSADH) deficiency.
- Our target is $18.
Shares of Aldeyra Therapeutics closed at $7.45 yesterday.
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