Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $6.75 price objective on the biotechnology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 8.87% from the company’s current price.
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 equities analysts have also recently issued reports about the stock. ValuEngine cut shares of Aldeyra Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 6th. HC Wainwright set a $18.00 target price on shares of Aldeyra Therapeutics and gave the company a “buy” rating in a research note on Wednesday, August 9th. Cowen and Company reissued 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 began coverage on shares of Aldeyra Therapeutics in a research note on Tuesday, October 24th. They issued an “overweight” rating and a $22.00 target price for the company. Finally, Canaccord Genuity reissued a “buy” rating and issued a $27.00 target price (up from $12.00) on shares of Aldeyra Therapeutics in a research note on Wednesday, September 13th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Aldeyra Therapeutics has a consensus rating of “Buy” and a consensus target price of $17.29.
Shares of Aldeyra Therapeutics (ALDX) traded up $0.15 on Tuesday, hitting $6.20. 109,100 shares of the stock traded hands, compared to its average volume of 298,267. Aldeyra Therapeutics has a one year low of $3.80 and a one year high of $11.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 20.35 and a quick ratio of 20.35.
Aldeyra Therapeutics (NASDAQ:ALDX) last released its earnings results on Thursday, November 9th. The biotechnology company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.09. sell-side analysts expect that Aldeyra Therapeutics will post -1.39 EPS for the current fiscal year.
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In other Aldeyra Therapeutics news, major shareholder Life Sciences Maste Perceptive purchased 200,000 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was acquired at an average price of $7.25 per share, with a total value of $1,450,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 28.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Perceptive Advisors LLC lifted its holdings in Aldeyra Therapeutics by 6.9% during 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. Sphera Funds Management LTD. lifted its holdings in 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 valued at $7,518,000 after purchasing an additional 168,200 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Aldeyra Therapeutics by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 304,633 shares of the biotechnology company’s stock valued at $1,431,000 after purchasing an additional 9,407 shares during the last quarter. Hikari Power Ltd lifted its holdings in Aldeyra Therapeutics by 186.4% during the 2nd quarter. Hikari Power Ltd now owns 107,858 shares of the biotechnology company’s stock valued at $507,000 after purchasing an additional 70,196 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Aldeyra Therapeutics during the 1st quarter valued at $132,000. 40.34% of the stock is owned by institutional investors and hedge funds.
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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