Laidlaw Starts Aldeyra Therapeutics (ALDX) at Buy

Laidlaw initiates coverage on Aldeyra Therapeutics (NASDAQ: ALDX) with a Buy rating and a price target of $30.00.

Analyst Yale Jen said, "Aldeyra Therapeutics is a mid-clinical stage biotechnology company focusing on the development of its proprietary aldehyde trapping medications for the treatment of diseases directly associated with impairment of free aldehyde regulating enzymes as well as inflammatory diseases that excess free aldehyde have played a critical part in pathogenesis."

"With two leading orphan indication clinical developments in place, we believe NS2 has potential in taking a shorter time to market. Further, aldehyde trapping could potentially address unmet needs of greater disease areas. Our $30 12-month price target is based on our peer comparable and probability adjusted DCF analyses for this under-exposed, and under-valued, story," he added.

For an analyst ratings summary and ratings history on Aldeyra Therapeutics click here. For more ratings news on Aldeyra Therapeutics click here.

Shares of Aldeyra Therapeutics closed at $8.86 yesterday.

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