Aldeyra Therapeutics (NASDAQ:ALDX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
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. “
Several other equities analysts have also commented on ALDX. ValuEngine lowered Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Cowen reiterated an “outperform” rating and issued a $14.00 target price (up from $9.00) on shares of Aldeyra Therapeutics in a research note on Thursday, September 14th. Cantor Fitzgerald assumed coverage on Aldeyra Therapeutics in a research note on Tuesday, October 24th. They set an “overweight” rating and a $22.00 price target for the company. Finally, Canaccord Genuity restated a “buy” rating and set a $27.00 price target (up from $12.00) on shares of Aldeyra Therapeutics in a research note on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. Aldeyra Therapeutics presently has a consensus rating of “Buy” and an average price target of $17.42.
Aldeyra Therapeutics (NASDAQ:ALDX) last released its earnings results on Thursday, November 9th. The biotechnology company reported ($0.32) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.09. equities research analysts forecast that Aldeyra Therapeutics will post -1.39 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in ALDX. Vanguard Group Inc. increased its stake in Aldeyra Therapeutics by 3.2% during the second 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 last quarter. Virtu KCG Holdings LLC acquired a new stake in Aldeyra Therapeutics during the second quarter worth about $104,000. Bank of New York Mellon Corp acquired a new stake in Aldeyra Therapeutics during the third quarter worth about $134,000. Sphera Funds Management LTD. increased its stake in Aldeyra Therapeutics by 19.2% during the third 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 last quarter. Finally, Perceptive Advisors LLC increased its stake in Aldeyra Therapeutics by 6.9% during the third 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 last quarter. Institutional investors own 47.89% of the company’s stock.
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Aldeyra Therapeutics Company Profile
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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