Zacks Investment Research Lowers Aldeyra Therapeutics (ALDX) to Hold

Zacks Investment Research lowered shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “Aldeyra Therapeutics, Inc. is a biotechnology company. The company’s products target immune-mediated, inflammatory, orphan, and other diseases. It is developing NS2, a compound that binds and traps free aldehydes. Aldeyra Therapeutics, Inc. is based in Burlington, Massachusetts. “

Several other equities research analysts have also weighed in on the company. Cantor Fitzgerald began coverage on Aldeyra Therapeutics in a research report on Tuesday, October 24th. They issued an overweight rating and a $22.00 target price on the stock. ValuEngine lowered Aldeyra Therapeutics from a hold rating to a sell rating in a report on Tuesday, September 26th. Cowen reissued an outperform rating and set a $14.00 price target (up from $9.00) on shares of Aldeyra Therapeutics in a report on Thursday, September 14th. Finally, Canaccord Genuity reissued a buy rating and set a $27.00 price target (up from $12.00) on shares of Aldeyra Therapeutics in a report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $17.42.

Shares of Aldeyra Therapeutics (NASDAQ ALDX) traded up $0.15 during midday trading on Tuesday, reaching $6.90. The company’s stock had a trading volume of 148,700 shares, compared to its average volume of 122,512. Aldeyra Therapeutics has a 1 year low of $3.80 and a 1 year high of $11.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 20.35 and a quick ratio of 20.35. The firm has a market capitalization of $130.00, a price-to-earnings ratio of -4.89 and a beta of 0.53.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its earnings results on Thursday, November 9th. The biotechnology company reported ($0.32) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.09. equities research analysts predict that Aldeyra Therapeutics will post -1.39 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of ALDX. Vanguard Group Inc. increased its holdings in shares of Aldeyra Therapeutics by 3.2% during the second quarter. Vanguard Group Inc. now owns 304,633 shares of the biotechnology company’s stock valued at $1,431,000 after purchasing an additional 9,407 shares during the period. Virtu KCG Holdings LLC acquired a new position in shares of Aldeyra Therapeutics during the second quarter valued at $104,000. Bank of New York Mellon Corp acquired a new position in shares of Aldeyra Therapeutics during the third quarter valued at $134,000. Sphera Funds Management LTD. increased its holdings in shares of Aldeyra Therapeutics by 19.2% during the third quarter. Sphera Funds Management LTD. now owns 1,044,131 shares of the biotechnology company’s stock valued at $7,518,000 after purchasing an additional 168,200 shares during the period. Finally, Perceptive Advisors LLC increased its holdings in shares of Aldeyra Therapeutics by 6.9% during the third quarter. Perceptive Advisors LLC now owns 3,085,458 shares of the biotechnology company’s stock valued at $22,215,000 after purchasing an additional 200,000 shares during the period. 47.89% of the stock is currently owned by institutional investors.

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About Aldeyra Therapeutics

Aldeyra Therapeutics, Inc, formerly Aldexa Therapeutics, Inc, is a biotechnology company. The Company’s principal activities include raising capital and research and development activities. The Company’s segment is the identification and development of a treatment for diseases related to high levels of aldehydes.

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