Aldeyra Therapeutics (NASDAQ:ALDX) Stock Rating Reaffirmed as Buy by BTIG Research

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

Several other research firms have also issued reports on ALDX. Wall Street Zen lowered Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research note 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 equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Aldeyra Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $5.50.

Aldeyra Therapeutics Stock Up 13.8%

Shares of NASDAQ:ALDX traded up $0.16 during midday trading on Tuesday, reaching $1.32. 5,415,169 shares of the company traded hands, compared to its average volume of 1,759,635. The firm’s fifty day moving average price is $1.49 and its two-hundred day moving average price is $1.75. The firm has a market capitalization of $79.64 million, a price-to-earnings ratio of -3.38 and a beta of 1.20. Aldeyra Therapeutics has a 12 month low of $1.07 and a 12 month high of $5.93.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). Analysts forecast that Aldeyra Therapeutics will post -0.39 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Aldeyra Therapeutics during the second quarter valued at about $2,678,000. 683 Capital Management LLC boosted its position in Aldeyra Therapeutics by 86.6% during the fourth 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 during the period. GSA Capital Partners LLP purchased a new stake in Aldeyra Therapeutics during the second quarter valued at about $1,007,000. Renaissance Technologies LLC boosted its position in Aldeyra Therapeutics by 146.6% during the first quarter. Renaissance Technologies LLC now owns 863,187 shares of the biotechnology company’s stock valued at $1,459,000 after buying an additional 513,187 shares during the period. Finally, Hikari Power Ltd purchased a new stake in Aldeyra Therapeutics during the second quarter valued at about $43,000. 59.71% of the stock is currently owned by institutional investors.

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.