Canaccord Genuity Remains a Buy on Aldeyra Therapeutics

By Ryan Adsit

Canaccord Genuity analyst John Newman maintained a Buy rating on Aldeyra Therapeutics (NASDAQ: ALDX) today and set a price target of $27. The company’s shares opened today at $8.85.

Newman wrote:

“We are updating our ALDX model, but our price target remains unchanged at $27. We also maintain current US peak sales estimates.”

According to TipRanks.com, Newman is a 5-star analyst with an average return of 17.5% and a 45.2% success rate. Newman covers the Healthcare sector, focusing on stocks such as Hutchison China MediTech Ltd, Synergy Pharmaceuticals Inc, and Rocket Pharmaceuticals Inc.

Aldeyra Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $20.

The company has a one-year high of $11.90 and a one-year low of $3.80. Currently, Aldeyra Therapeutics has an average volume of 99.69K.

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Aldeyra Therapeutics, Inc. operates as a biotechnology company. It primarily focuses on the development of new products for immune-mediated, inflammatory, orphan and other diseases that are thought to be caused in part by naturally occurring toxic chemical species known as free aldehydes. The company was founded by Thomas A. Jordan and John E.