Aldeyra Therapeutics Inc (ALDX) was Initiated by Stifel to “Buy” and the brokerage firm has set the Price Target at $16. Stifel advised their investors in a research report released on Jul 1, 2016.
Aldeyra Therapeutics Inc opened for trading at $5.68 and hit $5.68 on the upside on Wednesday, eventually ending the session at $5.5, with a gain of 2.04% or 0.11 points. The heightened volatility saw the trading volume jump to 29,828 shares. Company has a market cap of $53 M.
Aldeyra Therapeutics Inc. formerly Aldexa Therapeutics Inc. is a biotechnology company. The Company is focused primarily on the development of new products for immune-mediated inflammatory orphan and other diseases that are caused by naturally occurring toxic chemical species known as free aldehydes. The Company has developed a series of product candidates that are designed specifically to trap and allow for the degradation of free aldehydes. The Company’s most advanced product candidate is an eye drop formulation of NS2 which is under development for the treatment of Sjogren-Larsson Syndrome (SLS). The Company has completed a double-masked placebo-controlled Phase I clinical testing of 0.25% and 0.5% NS2 administered as an eye drop for safety and tolerability in approximately 48 healthy volunteers. Data from the Phase I study demonstrated that NS2 was well tolerated in all subjects throughout the duration of the study.