Aldeyra Therapeutics (NASDAQ:ALDX) Earns Buy Rating from BTIG Research

Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a research report issued on Tuesday, Benzinga reports.

Several other equities analysts have also weighed in on the stock. Wall Street Zen lowered shares of Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings cut shares of Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, September 14th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.50.

Aldeyra Therapeutics Stock Up 13.8%

Aldeyra Therapeutics stock traded up $0.16 during mid-day trading on Tuesday, reaching $1.32. 5,415,169 shares of the company’s stock were exchanged, compared to its average volume of 1,759,635. The business’s fifty day simple moving average is $1.49 and its 200 day simple moving average is $1.75. Aldeyra Therapeutics has a one year low of $1.07 and a one year high of $5.93. The firm has a market capitalization of $79.64 million, a PE ratio of -3.38 and a beta of 1.20.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.09). On average, sell-side analysts forecast that Aldeyra Therapeutics will post -0.39 earnings per share for the current year.

Institutional Investors Weigh In On Aldeyra Therapeutics

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Aldeyra Therapeutics during the second quarter worth about $2,678,000. 683 Capital Management LLC lifted its stake in shares of Aldeyra Therapeutics by 86.6% during the 4th quarter. 683 Capital Management LLC now owns 1,530,000 shares of the biotechnology company’s stock valued at $7,925,000 after buying an additional 710,000 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Aldeyra Therapeutics during the 2nd quarter valued at approximately $1,007,000. Renaissance Technologies LLC boosted its holdings in Aldeyra Therapeutics by 146.6% in the 1st quarter. Renaissance Technologies LLC now owns 863,187 shares of the biotechnology company’s stock worth $1,459,000 after buying an additional 513,187 shares during the period. Finally, Hikari Power Ltd purchased a new position in Aldeyra Therapeutics in the 2nd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 59.71% of the company’s stock.

Aldeyra Therapeutics Company Profile

Aldeyra Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for immune-mediated diseases. The company’s research centers on reactive aldehyde species, or RASP, which are inflammatory mediators that can contribute to tissue damage and disease progression.

Aldeyra’s lead investigational product is reproxalap, a small-molecule RASP inhibitor being developed for ocular conditions, including dry eye disease and allergic conjunctivitis. The company has also developed ADX-2191, an investigational intravitreal formulation of methotrexate intended for the treatment of certain rare retinal diseases, including proliferative vitreoretinopathy and retinitis pigmentosa.

Founded in 2008 and headquartered in Lexington, Massachusetts, Aldeyra conducts its research and clinical development activities primarily in the United States.