Aldeyra Therapeutics (ALDX) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a buy rating to a hold rating in a research report released 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. “

ALDX has been the subject of several other research reports. ValuEngine raised shares of Aldeyra Therapeutics from a strong sell rating to a sell rating in a research note on Tuesday, September 12th. Canaccord Genuity reiterated a buy rating and issued a $27.00 target price (up from $12.00) on shares of Aldeyra Therapeutics in a report on Wednesday, September 13th. Cantor Fitzgerald started coverage on shares of Aldeyra Therapeutics in a report on Tuesday, October 24th. They issued an overweight rating and a $22.00 target price on the stock. Finally, Cowen reiterated an outperform rating and issued a $14.00 target price (up from $9.00) on shares of Aldeyra Therapeutics in a report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $17.29.

Shares of Aldeyra Therapeutics (ALDX) opened at $6.90 on Tuesday. Aldeyra Therapeutics has a one year low of $3.80 and a one year high of $11.90. The stock has a market cap of $132.87, a PE ratio of -4.89 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a quick ratio of 20.35 and a current ratio of 20.35.

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

A number of large investors have recently bought and sold shares of ALDX. 683 Capital Management LLC boosted its holdings in Aldeyra Therapeutics by 59.1% in the 3rd quarter. 683 Capital Management LLC now owns 835,514 shares of the biotechnology company’s stock valued at $6,016,000 after purchasing an additional 310,421 shares during the last quarter. Sphera Funds Management LTD. boosted its holdings in Aldeyra Therapeutics by 31.0% in the 2nd quarter. Sphera Funds Management LTD. now owns 875,931 shares of the biotechnology company’s stock valued at $4,117,000 after purchasing an additional 207,431 shares during the last quarter. Perceptive Advisors LLC boosted its holdings in Aldeyra Therapeutics by 6.9% in the 3rd quarter. Perceptive Advisors LLC now owns 3,085,458 shares of the biotechnology company’s stock valued at $22,215,000 after purchasing an additional 200,000 shares during the last quarter. Hikari Power Ltd lifted its holdings in shares of Aldeyra Therapeutics by 186.4% in the 2nd quarter. Hikari Power Ltd now owns 107,858 shares of the biotechnology company’s stock worth $507,000 after acquiring an additional 70,196 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Aldeyra Therapeutics in the 1st quarter worth approximately $132,000. 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.

Analyst Recommendations for Aldeyra Therapeutics (NASDAQ:ALDX)

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