Zacks Investment Research Downgrades Aldeyra Therapeutics (NASDAQ:ALDX) to Hold

Zacks Investment Research cut shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a buy rating to a hold rating in a research note published on Tuesday, January 9th.

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

Shares of Aldeyra Therapeutics (ALDX) remained flat at $$6.65 during trading on Tuesday. The company’s stock had a trading volume of 59,400 shares, compared to its average volume of 99,300. The company has a debt-to-equity ratio of 0.02, a quick ratio of 20.35 and a current ratio of 20.35. Aldeyra Therapeutics has a 12-month low of $3.80 and a 12-month high of $11.90. The company has a market cap of $132.87, a PE ratio of -4.72 and a beta of 0.53.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.32) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.09. sell-side analysts predict that Aldeyra Therapeutics will post -1.36 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu KCG Holdings LLC purchased a new stake in shares of Aldeyra Therapeutics during the second quarter valued at approximately $104,000. Bank of New York Mellon Corp purchased a new stake in shares of Aldeyra Therapeutics during the third quarter valued at approximately $134,000. Vanguard Group Inc. grew its position 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 worth $1,431,000 after buying an additional 9,407 shares in the last quarter. 683 Capital Management LLC grew its position in shares of Aldeyra Therapeutics by 59.1% during the third quarter. 683 Capital Management LLC now owns 835,514 shares of the biotechnology company’s stock worth $6,016,000 after buying an additional 310,421 shares in the last quarter. Finally, Sphera Funds Management LTD. grew its position 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 worth $7,518,000 after buying an additional 168,200 shares in the last quarter. Hedge funds and other institutional investors own 47.89% of the company’s stock.

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Aldeyra Therapeutics Company Profile

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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