Aldeyra Therapeutics (NASDAQ:ALDX) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a buy rating to a hold rating in a research report report 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. “

A number of other brokerages have also issued reports on ALDX. Cowen reiterated an outperform rating and issued a $14.00 target price (up previously from $9.00) on shares of Aldeyra Therapeutics in a research report on Thursday, September 14th. Cantor Fitzgerald started coverage on shares of Aldeyra Therapeutics in a research report on Tuesday, October 24th. They issued an overweight rating and a $22.00 target price for the company. ValuEngine lowered shares of Aldeyra Therapeutics from a hold rating to a sell rating in a research report on Tuesday, September 26th. Finally, Canaccord Genuity restated a buy rating and set a $27.00 price objective (up previously from $12.00) on shares of Aldeyra Therapeutics in a research report on Wednesday, September 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $16.79.

Aldeyra Therapeutics (ALDX) opened at $7.10 on Tuesday. The company has a quick ratio of 20.35, a current ratio of 20.35 and a debt-to-equity ratio of 0.02. Aldeyra Therapeutics has a 12-month low of $3.80 and a 12-month high of $11.90.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its earnings results on Thursday, November 9th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.09. sell-side analysts forecast that Aldeyra Therapeutics will post -1.35 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of ALDX. Virtu KCG Holdings LLC bought a new position in shares of Aldeyra Therapeutics during the 2nd quarter valued at about $104,000. Bank of New York Mellon Corp bought a new position in shares of Aldeyra Therapeutics during the 3rd quarter valued at about $134,000. Woodstock Corp boosted its position in shares of Aldeyra Therapeutics by 20.4% during the 4th quarter. Woodstock Corp now owns 58,243 shares of the biotechnology company’s stock valued at $396,000 after purchasing an additional 9,850 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Aldeyra Therapeutics by 3.2% during the 2nd 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 in the last quarter. Finally, 683 Capital Management LLC boosted its position in shares of Aldeyra Therapeutics by 59.1% during the 3rd quarter. 683 Capital Management LLC now owns 835,514 shares of the biotechnology company’s stock valued at $6,016,000 after purchasing an additional 310,421 shares in the last quarter. Institutional investors own 47.92% 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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