Aldeyra Therapeutics (ALDX) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a hold rating to a buy rating in a research note published on Tuesday. Zacks Investment Research currently has $7.50 price target on the biotechnology company’s stock.

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. “

Other research analysts have also issued research reports about the company. ValuEngine lowered Aldeyra Therapeutics from a sell rating to a strong sell rating in a report on Wednesday, September 6th. Cowen restated an outperform rating and issued a $14.00 price objective (up previously from $9.00) on shares of Aldeyra Therapeutics in a report on Thursday, September 14th. Cantor Fitzgerald assumed coverage on Aldeyra Therapeutics in a report on Tuesday, October 24th. They issued an overweight rating and a $22.00 price objective on the stock. Finally, Canaccord Genuity restated a buy rating and issued a $27.00 price objective (up previously from $12.00) on shares of Aldeyra Therapeutics in a report on Wednesday, September 13th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $17.42.

Shares of Aldeyra Therapeutics (NASDAQ ALDX) remained flat at $$7.00 during mid-day trading on Tuesday. 46,912 shares of the company’s stock were exchanged, compared to its average volume of 82,000. The company has a current ratio of 20.35, a quick ratio of 20.35 and a debt-to-equity ratio of 0.02. The company has a market cap of $133.82, a PE ratio of -4.96 and a beta of 0.53. Aldeyra Therapeutics has a 52-week low of $3.80 and a 52-week high of $11.90.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings data on Thursday, November 9th. The biotechnology company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.09. equities analysts expect that Aldeyra Therapeutics will post -1.39 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Perceptive Advisors LLC raised its holdings in shares of Aldeyra Therapeutics by 6.9% during the 3rd quarter. Perceptive Advisors LLC now owns 3,085,458 shares of the biotechnology company’s stock worth $22,215,000 after acquiring an additional 200,000 shares during the period. Sphera Funds Management LTD. raised its holdings in shares of Aldeyra Therapeutics by 19.2% during the 3rd quarter. Sphera Funds Management LTD. now owns 1,044,131 shares of the biotechnology company’s stock worth $7,518,000 after acquiring an additional 168,200 shares during the period. 683 Capital Management LLC raised its holdings 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 worth $6,016,000 after acquiring an additional 310,421 shares during the period. Virtu KCG Holdings LLC purchased a new position in shares of Aldeyra Therapeutics during the 2nd quarter worth $104,000. Finally, Vanguard Group Inc. raised its holdings 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 worth $1,431,000 after acquiring an additional 9,407 shares during the period. Institutional investors and hedge funds own 47.89% of the company’s stock.

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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.

Analyst Recommendations for Aldeyra Therapeutics (NASDAQ:ALDX)

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