Analysts Set Aldeyra Therapeutics, Inc (ALDX) Target Price at $22.67

Aldeyra Therapeutics, Inc (NASDAQ:ALDX) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $22.67.

ALDX has been the subject of a number of analyst reports. Seaport Global Securities reiterated a “buy” rating on shares of Aldeyra Therapeutics in a research report on Thursday, March 1st. Canaccord Genuity reiterated a “buy” rating and issued a $27.00 price target on shares of Aldeyra Therapeutics in a research report on Tuesday, March 13th. Cantor Fitzgerald set a $23.00 price target on shares of Aldeyra Therapeutics and gave the company a “buy” rating in a research report on Thursday, March 29th. Zacks Investment Research downgraded shares of Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 4th. Finally, Cowen reiterated a “hold” rating on shares of Aldeyra Therapeutics in a research report on Monday, April 9th.

Institutional investors and hedge funds have recently made changes to their positions in the business. Mangrove Partners acquired a new position in Aldeyra Therapeutics during the fourth quarter valued at approximately $1,118,000. Millennium Management LLC raised its position in Aldeyra Therapeutics by 31.3% during the fourth quarter. Millennium Management LLC now owns 715,679 shares of the biotechnology company’s stock valued at $4,867,000 after purchasing an additional 170,594 shares in the last quarter. 683 Capital Management LLC raised its position in Aldeyra Therapeutics by 9.5% during the fourth quarter. 683 Capital Management LLC now owns 915,000 shares of the biotechnology company’s stock valued at $6,222,000 after purchasing an additional 79,486 shares in the last quarter. Geode Capital Management LLC raised its position in Aldeyra Therapeutics by 34.6% during the fourth quarter. Geode Capital Management LLC now owns 102,263 shares of the biotechnology company’s stock valued at $695,000 after purchasing an additional 26,269 shares in the last quarter. Finally, Stanley Laman Group Ltd. acquired a new position in Aldeyra Therapeutics during the first quarter valued at approximately $480,000. Institutional investors and hedge funds own 51.17% of the company’s stock.

Shares of Aldeyra Therapeutics traded down $0.10, reaching $8.50, during midday trading on Friday, according to MarketBeat.com. The company’s stock had a trading volume of 83,589 shares, compared to its average volume of 95,790. The company has a current ratio of 11.09, a quick ratio of 11.09 and a debt-to-equity ratio of 0.03. Aldeyra Therapeutics has a fifty-two week low of $3.90 and a fifty-two week high of $11.90. The company has a market cap of $168.92 million, a price-to-earnings ratio of -6.07 and a beta of 0.57.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its quarterly earnings results on Tuesday, May 15th. The biotechnology company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). equities research analysts forecast that Aldeyra Therapeutics will post -1.66 earnings per share for the current year.

Aldeyra Therapeutics Company Profile

Aldeyra Therapeutics, Inc, a biotechnology company, focuses on the development of products for inflammation, inborn errors of metabolism, and other diseases in the United States and internationally. It is developing ADX-102, a small molecule designed to trap and allow for the degradation of aldehydes, as well as ADX-103 and ADX-104 novel candidates for the treatment of noninfectious anterior uveitis, allergic conjunctivitis, dry eye syndrome, sjögren-larsson syndrome, and succinic semi-aldehyde dehydrogenase deficiency.

Analyst Recommendations for Aldeyra Therapeutics (NASDAQ:ALDX)

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