5.06 +0.01 (0.20%)
After hours: 5:59PM EDT
|Bid||5.04 x 1100|
|Ask||5.05 x 1100|
|Day's Range||4.71 - 5.26|
|52 Week Range||1.48 - 8.05|
|Beta (5Y Monthly)||1.93|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 07, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||29.00|
Which stocks are leading the pack out on Wall Street? Biotechs. Understandably, investors have taken a more cautious approach when navigating the confused financial environment, but focus is locking in on the biotech sector as it has been able to withstand the COVID-19-induced pressure on the market. Proving to be relatively defensive, the biotech indexes, XBI and IBB, have outperformed the broader market year-to-date, with each gaining over 10% compared to the S&P 500’s 8% decline.The space’s resilience combined with a limited impact on Q1 fundamentals and the elimination of macro headwinds regarding drug legislation, has caused sentiment surrounding 2H20 performance to swing strongly positive.While there certainly are exciting opportunities at play, biotech stocks aren’t for the faint of heart. Seasoned market watchers know that they are notoriously volatile, prone to huge movements on account of a single update. This makes them riskier investments, but it also enables them to deliver massive returns. Taking all of this into consideration, we used TipRanks’ database to search the Street for compelling, yet affordable names housed in the biotech space. We found three stocks trading for less than $5 that are backed by enough Wall Street analysts to earn a “Strong Buy” consensus rating. If that wasn’t enough, each boasts explosive upside potential.BioLineRx Ltd. (BLRX)Primarily focused on oncology, BioLineRX in-licenses cutting-edge compounds, develops them through clinical stages and then partners with pharmaceutical companies for further clinical development.Tuesday was a rough day for BioLineRx investors. Shares tumbled nearly 30% following the announcement of an equity offering. The company priced 5,142,859 shares at $1.75 apiece, which was well below the $2.39 per share where the stock had been trading. Yet, with significant potential catalysts slated for 2020 and a share price of $1.60, several members of the Street believe that now is the time to snap up shares.In spite of COVID-19, its upcoming data readouts remain on track for this calendar year, including top-line results from the Phase 3 GENESIS trial. The study is looking at its BL-8040 candidate as a stem cell mobilization agent for multiple myeloma patients undergoing autologous transplant, with the trial specifically comparing motixafortide and G-CSF versus G-CSF alone.With the trial’s patient accrual progressing according to plan and no material protocol deviations witnessed to date, Oppenheimer’s Mark Breidenbach believes the data release, which is slated for 2H20, will be a “large-impact catalyst.”Expounding on this, the 5-star analyst stated, “Assuming positive data, management would likely engage with a partner to assist with the registrational filing and potential launch of motixafortide in stem cell mobilization... Based on prior data from a lead-in cohort, we remain confident that GENESIS can hit its primary endpoint, which could help attract a strategic collaboration to support commercialization.”On top of this, motixafortide is being evaluated across several indications, and PFS/OS data from the COMBAT/ KEYNOTE-202 trial in pancreatic cancer is scheduled for a mid-year release, with it aiming to publish interim results from the randomized Blast trial in AML in 2H20.Additionally, PFS/OS results from the COMBAT/KEYNOTE-202 triplet regimen (motixafortide, pembro and chemo) could be presented at a medical conference early this summer. Breidenbach pointed out, “The triplet previously yielded a 32% ORR and 77% disease control rate as of December 19 data cutoff. If the triplet combination suggests a PFS/ OS benefit, we would expect BioLineRx to seek a strategic partner for continued development.”To this end, Breidenbach left an Outperform (i.e. Buy) rating and $11 price target on the stock. Based on this target, shares could soar 567% in the next twelve months. (To watch Breidenbach’s track record, click here)Like Breidenbach, other analysts also take a bullish approach. BLRX’s Strong Buy consensus rating breaks down into 3 Buys and no Holds or Sells. Given the $11.33 average price target, a possible twelve-month gain in the shape of 587% could be on the horizon. (See BioLineRx stock analysis on TipRanks)Aldeyra Therapeutics (ALDX)Hoping to develop medicines capable of improving the lives of patients with immune-mediated diseases, Aldeyra’s pipeline focuses on inhibiting inflammatory cells linked to ocular and systemic conditions that aren’t sufficiently addressed by available treatments. Currently going for $4.11 apiece, several members of the Street recommend that investors pull the trigger.Recently, ALDX has found itself on investors’ radar as a result of its potential COVID-19 treatment, ADX-629. Writing for Laidlaw, analyst Yale Jen points out that the urgency of the pandemic and the likely MOA of TH1, TH2 and TH17-related cytokines reduction prompted the company to design three Phase 2 studies looking at ADX-629 in COVID-19 respiratory compromise (reducing impact from cytokine storm), autoimmune disease (associated with TH1 cytokines) and allergy (associated with TH2 cytokines). The first’s initiation is slated for Q3 2020, and the others should start in 2H20.“With this arrangement, ALDX could gain substantial insights into the anti-inflammatory effects ADX-629 might have in the clinic. We estimate the COVID-19 trial could be a placebo study for gaging the therapeutic impact of reducing or mitigating the disease worsening after the initial infection,” Jen commented. Additionally, the study could help the company design or adjust trial designs for the other two indications.Adding to the good news, ALDX is expected to have a meeting with the FDA to finalize the study design of part two of the RENEW trial, with it potentially kicking off the pivotal study in 2H20 after the COVID-19 situation improves.As for the Phase 3 ALLEVIATE trial data readout, it will most likely come in 1H21 due to the unexpected extended allergy season this year that increased the number of patients with red eye, which makes them ineligible for the study. Jen also acknowledges that COVID-19 has reduced the availability of doctors and patients able to participate in clinical studies. However, he argued, “Together, with ADX-629 taking the center stage, while other studies being slowing down, we do not view the fundamental of ALDX has been eroded in anyway... We think ALDX shares remain under-exposed and under-valued.”Based on all of the above, Jen stayed with the bulls. Along with a Buy rating, he kept a $30 price target on the stock. This implies upside potential of a massive 630%. (To watch Jen’s track record, click here) What does the rest of the Street think about ALDX? It turns out that other analysts also have high hopes. Only Buy ratings have been received in the last three months, 4 to be exact, so the consensus rating is a Strong Buy. In addition, the $26 average price target suggests 533% upside potential. (See Aldeyra stock analysis on TipRanks)Miragen Therapeutics Inc. (MGEN)Offering a compelling microRNA pipeline led by its cobomarsen asset, Miragen believes its therapies could potentially address the unmet needs in cancer and other diseases. At only $0.68 per share, the analyst community thinks that even though COVID-19 has presented headwinds, the share price reflects an attractive entry point.When it comes to MGEN’s SOLAR trial, it has come under pressure. While the trial is progressing with a modified design, the execution is facing challenges as patients have been missing doses and site visits due to COVID-19. Up to one month of medication can be missed per protocol and the implementation of home infusions has been lessening, but on-site evaluations are essential because they are required for mSWAT measurements and can’t be performed remotely. The implications? A data readout will most likely come later than previously expected.Representing Oppenheimer, 5-star analyst Leland Gershell remains unphased by the delay. “Following encouraging observations of prolonged disease stabilization with cobomarsen as seen in patients with residual disease post-chemo/other treatment, MGEN is exploring an expedited path to a label for this aggressive malignancy. It plans to soon request an FDA meeting to discuss, and while hopeful that this will occur in 3Q, cautioned on delay given agency prioritization of COVID-19-directed initiatives,” Gershell said.That said, there is a bright spot for MGEN, in Gershell’s opinion. According to the analyst, there’s a significant opportunity for its MRG-229 candidate in IPF because similar to remlarsen, “this candidate is an miR-29 mimic and hence may offer utility to address fibrotic conditions (in which miR-29 is profoundly deficient).”Gershell explained “MGEN's program has NIH/Yale grant support, and recent progress triggered additional funding. MRG-229 represents a differentiated approach to IPF, a progressive and fatal lung disease poorly met by current options.” He added, “With just a $12 million EV, we believe any pipeline progress could spark interest in MGEN.”All of this led Gershell to reiterate an Outperform (i.e. Buy) rating on MGEN along with a $5 price target, which suggest an explosive upside potential of 632%. (To watch Gershell’s track record, click here) Looking at the consensus breakdown, other analysts are on the same page. With 3 Buys and no Holds or Sells, the word on the Street is that MGEN is a Strong Buy. At $5.33, the average price target puts the upside potential at 680%. (See MGEN stock analysis on TipRanks)To find good ideas for biotech stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Shares of Kindred Biosciences and Vaxart popped Wednesday after the drugmakers inked a manufacturing deal for a coronavirus vaccine tablet. Aldeyra is also planning to test a treatment.
Here's a roundup of top developments in the biotech space over the last 24 hours.Scaling The Peaks (Biotech Stocks Hitting 52-week Highs May 19) * ADC Therapeutics SA (NYSE: ADCT) (IPOed May 15) * Allogene Therapeutics Inc (NASDAQ: ALLO) * Arcturus Therapeutics Ltd (NASDAQ: ARCT) * Bio-Rad Laboratories, Inc. (NYSE: BIO) * BioXcel Therapeutics Inc (NASDAQ: BTAI) * ChemoCentryx Inc (NASDAQ: CCXI) * Evoke Pharma Inc (NASDAQ: EVOK) * I-Mab ADR (NASDAQ: IMAB) * Imara Inc (NASDAQ: IMRA) * Intellia Therapeutics Inc (NASDAQ: NTLA) * Neurocrine Biosciences, Inc. (NASDAQ: NBIX) * Syndax Pharmaceuticals Inc (NASDAQ: SNDX) * Translate Bio Inc (NASDAQ: TBIO) * Twist Bioscience Corp (NASDAQ: TWST) * United Therapeutics Corporation (NASDAQ: UTHR) * VBI Vaccines Inc (NASDAQ: VBIV) * Vermillion, Inc. (NASDAQ: VRML) * Zai Lab Ltd (NASDAQ: ZLAB) * Zentalis Pharmaceuticals Inc (NASDAQ: ZNTL)Down In The Dumps (Biotech Stocks Hitting 52-week Lows May 19) * Lyra Therapeutics Inc (NASDAQ: LYRA) (IPOed May 1)Stocks In Focus Myriad Announces FDA Approval For Companion Diagnostic Test For Prostate Cancer Myriad Genetics, Inc. (NASDAQ: MYGN) said the FDA approved the BRACAnalysis CDx test for use as a companion diagnostic by healthcare professionals to identify men with metastatic castration-resistant prostate cancer who are eligible for treatment with Lynparza.Lynparza is a novel PARP inhibitor jointly developed and commercialized by AstraZeneca plc (NYSE: AZN) and Merck & Co., Inc. (NYSE: MRK).In pre-market trading Wednesday, Myriad shares were advancing 8.21% to $15.68.Aldeyra To Advance Two Pipeline Assets Into Clinical Trials For COVID-19 Treatment Aldeyra Therapeutics Inc (NASDAQ: ALDX) announced the planned advancement of the investigational new HSP90 inhibitor ADX-1612 to clinical testing for COVID-19, and provided an update on ADX-629, a novel investigational RASP inhibitor in development for COVID-19 and other inflammatory diseases.Aldeyra announced that ADX-1612 has demonstrated nanomolar potency similar to or greater than that of remdesivir in an in vitro model. Complementary to the nucleic acid inhibition mechanism of action of remdesivir and related antiviral compounds, ADX-1612 potentially leads to the inhibition of proteins associated with viral replication and infection, and thereby may enhance the activity of other antiviral drugs for the treatment of COVID-19. Pending FDA feedback, the company expects to file an IND the third quarter of 2020.The company said ADX-629 has completed pre-IND discussions with the Pulmonary Division of the FDA, and an IND application is expected to be submitted in June 2020.In pre-market trading, shares were up 23.70% to $4.75.Eiger's NDA For Progeria Drug Accepted For Accelerated Review Eiger Biopharmaceuticals Inc (NASDAQ: EIGR) said the FDA accepted its NDA for an accelerated review of Zokinvy for treatment of Progeria and Progeroid Laminopathies. The PDUFA action date has been fixed for Nov. 20. The company noted that the FDA is not currently planning to hold an advisory committee meeting to discuss this application.View more earnings on IBBRelated Link: These 6 Coronavirus Vaccine Candidates Are The Likeliest To Succeed, Says Morgan StanleyBio-Techne Announces Pact to Develop and Scale Up Serology Test Kits For Coronavirus BIO-TECHNE Corp (NASDAQ: TECH) and Kantaro Biosciences, the commercial affiliate of the Mount Sinai Health System in New York, announced a partnership to initiate scaled manufacturing and distribution of testing kits based on the Mount Sinai-developed COVID-19 serology test.Bio-Techne said it has partnered with Kantaro to develop a test kit based on the Mount Sinai test and to scale up, manufacture, sell and distribute these kits. Initial kit production capacity is expected to enable laboratories to conduct in excess of 10 million tests monthly in July, scaling to higher capacity in subsequent months..Offerings Ocular Therapeutix Inc (NASDAQ: OCUL) said it has commenced an underwritten public offering of its common stock. All of the shares in the offering are to be sold by the company. The company also said the offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.The stock fell 4.65% to $6.15 in after-hours trading.Medigus Ltd. (NASDAQ: MDGS) said it has priced its underwritten public offering of 3.33 million ADSs at a price of $1.50 per ADS. Each pre-funded warrant that allows purchase of one ADS is priced at $1.499 per pre-funded warrant. The company noted that the pre-funded warrants are exercisable at any time after the date of issuance upon payment of the exercise price of $0.001 per ADS.The stock slipped 10.24% to $2.63 in after-hours trading.VolitionRX Ltd (NYSE: VNRX) said it intends to offer and sell shares of its common stock in an underwritten public offering. All the shares are being offered by the company.In after-hours trading, the stock fell 7.30% to $2.92.On The Radar Earnings Mediwound Ltd (NASDAQ: MDWD) (before the market open) China Biologic Products Holdings Inc (NASDAQ: CBPO) (after the close) Cumberland Pharmaceuticals, Inc. (NASDAQ: CPIX) (after the close)See more from Benzinga * The Daily Biotech Pulse: FDA Nod For Roche, Arbutus Releases Positive Readout For HBV Therapy, Moderna Announces .34B Common Stock Offering * The Week Ahead In Biotech: Aquestive Awaits FDA Decision, Earnings Flow Slows * The Daily Biotech Pulse: Co-Diagnostics Earnings, NantKwest Plans Pancreatic Cancer Study, ADC Therapeutics IPO(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra), a clinical-stage biotechnology company focused on the development of novel therapies with the potential to improve the lives of patients with immune-mediated diseases, today announced the planned advancement of the investigational new HSP90 inhibitor ADX-1612 to clinical testing for COVID-19, and provided an update on ADX-629, a novel investigational RASP inhibitor in development for COVID-19 and other inflammatory diseases.
Shares in Aldeyra Therapeutics Inc (ALDX) exploded 30% in after-hours trading on Tuesday, following news that the company will host a conference call and webcast at 8AM ET today to provide a COVID-19 development update.The clinical-stage biotech is focused on the development of novel therapies with the potential to improve the lives of patients with immune-mediated diseases.In March the company announced that it will begin screening its novel reactive aldehyde species (RASP) inhibitors, including ADX-629 and reproxalap, for potential anti-inflammatory and antiviral activity in the treatment of COVID-19 infection.“We are committing scientific expertise and development resources associated with our RASP platform to help reduce the impact of the COVID-19 global healthcare crisis,” Todd Brady, CEO of Aldeyra stated at the time.“Given the strong association between RASP and acute respiratory distress syndrome (ARDS), as well as the structural similarity of reproxalap and ADX-629 to chloroquines, we are researching the potential of our novel RASP inhibitors to mitigate the clinical severity of COVID-19 infection.”Aldeyra subsequently announced in April that it was requesting a pre-investigational new drug meeting with the Infectious Disease Division of the U.S. Food and Drug Administration (FDA), and that it had filed ADX-629 under the FDA’s Coronavirus Treatment Acceleration Program (CTAP).Two analysts have published recent buy ratings on the stock, giving ALDX a Moderate Buy consensus. (See ALDX stock analysis on TipRanks).“We remain somewhat skeptical about the opportunity in COVID-19 respiratory compromise due to the sheer number of therapies that have been put forward to abate the current crisis… but continue to expect Aldeyra will deploy its resources prudently among these new areas of study” JonesTrading analyst Matthew Cross wrote recently, adding: “We believe the dry eye program should remain top of mind for investors.”Meanwhile Oppenheimer’s Justin Kim has just initiated Aldeyra with a buy rating and $12 price target (212% upside potential). “As Aldeyra gains greater visibility for its late-stage Phase 3 programs in allergic conjunctivitis (AC) and dry eye disease (DED), we believe the company could be positioned for a re-rating” he told investors on May 11.Related News: Moderna Spikes 21% Amid “Positive” Early-Stage Covid-19 Vaccine Data Gilead Signs Remdesivir Licensing Agreements With Five Drugmakers AstraZeneca Aiming For 30M UK Covid-19 Vaccine Doses By September More recent articles from Smarter Analyst: * Regeneron Announces Secondary Offering Pricing At $515/Share * Tesla Is Said to Cut Car Prices In North America, China To Jumpstart Demand * Jamie Dimon Likes JPMorgan at Current Levels - and Investors Pounce * ‘Holy Cow’ Exclaims Analyst On Tractor Supply’s Record Guidance; Shares Surge 9%
Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra) will host a conference call and webcast at 8:00 a.m. ET Wednesday, May 20, 2020 to provide a COVID-19 development update.
Aldeyra Therapeutics Inc (ALDX) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank 1 (Strong Buy).
Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra), a clinical-stage biotechnology company focused on the development of novel therapies with the potential to improve the lives of patients with immune-mediated diseases, today reported financial results for the first quarter ended March 31, 2020, announced new clinical trials in systemic inflammatory diseases, and provided an update on ocular disease programs.
Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra), a clinical-stage biotechnology company focused on the development of novel therapies with the potential to improve the lives of patients with immune-mediated diseases, will host a conference call at 8:00 a.m. ET on Thursday, May 7, 2020, to discuss financial results for the quarter ended March 31, 2020, and provide a corporate update.
More than two dozen Massachusetts companies have announced plans to create vaccines, treatments or devices for COVID-19 — garnering attention from investors while raising questions about long-term success.
Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra), a clinical-stage biotechnology company focused on the development of novel therapies with the potential to improve the lives of patients with immune-mediated diseases, today announced positive top-line Phase 1 clinical trial results for ADX-629, a first-in-class orally available reactive aldehyde species (RASP) inhibitor in development for the treatment of systemic immune-mediated diseases. Aldeyra also announced Phase 2 clinical development plans for ADX-629.
Aldeyra Therapeutics, Inc. (ALDX) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank 2 (Buy).
Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra) today announced that it will begin screening its library of novel reactive aldehyde species (RASP) inhibitors, including ADX-629 and reproxalap, for potential anti-inflammatory and antiviral activity in the treatment of COVID-19 infection.
Potential Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) shareholders may wish to note that the Chair of the Board, Richard...
Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra), a biotechnology company devoted to developing and commercializing next-generation medicines to improve the lives of patients with immune-mediated diseases, today reported financial results for the year ended December 31, 2019 and provided an update on anticipated clinical milestones.
Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra), today announced strategic prioritization of late-stage ocular disease programs in allergic conjunctivitis, dry eye disease, and proliferative vitreoretinopathy. In conjunction with the strategic prioritization, Aldeyra appointed ophthalmology drug development expert James A. Gow, M.D., as Senior Vice President of Clinical Development.
Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra), a biotechnology company devoted to developing and commercializing next-generation medicines to improve the lives of patients with immune-mediated diseases, today announced that the company will host a conference call on Thursday, March 12, 2020, at 8:00 a.m. ET to discuss financial results for the quarter and year ended December 31, 2019 and provide a corporate update.
Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra), a biotechnology company devoted to developing and commercializing next-generation medicines to improve the lives of patients with immune-mediated diseases, today announced that David McMullin, Chief Commercial Officer of Aldeyra, will present at Oppenheimer & Co.’s 30th Annual Healthcare Conference in New York City. The presentation is scheduled to begin at 10:55 a.m. (ET) Tuesday, March 17, 2020.