Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $4.75 price objective on the biotechnology company’s stock. Zacks Investment Research‘s target price points to a potential upside of 7.95% from the company’s previous close.
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 research analysts have also recently weighed in on ALDX. Stifel Nicolaus reiterated a “buy” rating and set a $16.00 price objective on shares of Aldeyra Therapeutics in a research report on Wednesday, May 31st. HC Wainwright set a $18.00 price objective on shares of Aldeyra Therapeutics and gave the company a “buy” rating in a research report on Thursday, June 15th. Finally, Canaccord Genuity set a $12.00 price objective on shares of Aldeyra Therapeutics and gave the company a “buy” rating in a research report on Wednesday, June 14th. Five analysts have rated the stock with a buy rating, Aldeyra Therapeutics currently has an average rating of “Buy” and a consensus price target of $14.15.
Shares of Aldeyra Therapeutics (NASDAQ:ALDX) opened at 4.40 on Thursday. Aldeyra Therapeutics has a 52-week low of $3.80 and a 52-week high of $8.19. The stock has a 50 day moving average of $4.68 and a 200 day moving average of $4.80. The stock’s market capitalization is $27.48 million.
Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.35) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.02. Analysts forecast that Aldeyra Therapeutics will post ($1.63) earnings per share for the current year.
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In related news, major shareholder Life Sciences Maste Perceptive purchased 296,007 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were purchased at an average cost of $4.60 per share, for a total transaction of $1,361,632.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 28.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Hikari Power Ltd bought a new position in Aldeyra Therapeutics during the first quarter worth approximately $188,000. Sphera Funds Management LTD. boosted its position in Aldeyra Therapeutics by 81.4% in the first quarter. Sphera Funds Management LTD. now owns 668,500 shares of the biotechnology company’s stock worth $3,343,000 after buying an additional 300,000 shares during the last quarter. Renaissance Technologies LLC bought a new position in Aldeyra Therapeutics during the first quarter worth approximately $132,000. Sabby Management LLC bought a new position in Aldeyra Therapeutics during the first quarter worth approximately $898,000. Finally, Perceptive Advisors LLC boosted its position in Aldeyra Therapeutics by 48.7% in the first quarter. Perceptive Advisors LLC now owns 2,885,458 shares of the biotechnology company’s stock worth $12,897,000 after buying an additional 945,000 shares during the last quarter. Hedge funds and other institutional investors own 58.28% of the company’s stock.
About Aldeyra Therapeutics
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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