Aldeyra Therapeutics’ (ALDX) Neutral Rating Reiterated at HC Wainwright

HC Wainwright restated their neutral rating on shares of Aldeyra Therapeutics (NASDAQ:ALDX) in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a $2.00 target price on the biotechnology company’s stock.

ALDX has been the subject of several other reports. Weiss Ratings lowered shares of Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 14th. BTIG Research reissued a “buy” rating on shares of Aldeyra Therapeutics in a report on Tuesday. Finally, Wall Street Zen lowered shares of Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.50.

Aldeyra Therapeutics Stock Down 9.3%

Aldeyra Therapeutics stock opened at $1.17 on Wednesday. The business’s 50-day moving average price is $1.46 and its 200 day moving average price is $1.68. The firm has a market cap of $70.59 million, a price-to-earnings ratio of -3.00 and a beta of 1.21. Aldeyra Therapeutics has a 52 week low of $1.07 and a 52 week high of $5.93.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.09). Equities analysts expect that Aldeyra Therapeutics will post -0.39 EPS for the current year.

Institutional Investors Weigh In On Aldeyra Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in shares of Aldeyra Therapeutics by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 624,170 shares of the biotechnology company’s stock worth $1,055,000 after purchasing an additional 11,912 shares in the last quarter. Krilogy Financial LLC acquired a new position in shares of Aldeyra Therapeutics during the 1st quarter worth about $26,000. Abel Hall LLC purchased a new position in Aldeyra Therapeutics in the 1st quarter valued at about $26,000. Chicago Partners Investment Group LLC purchased a new position in Aldeyra Therapeutics in the 1st quarter valued at about $33,000. Finally, Hikari Power Ltd purchased a new position in Aldeyra Therapeutics in the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 59.71% of the company’s stock.

Aldeyra Therapeutics Company Profile

Aldeyra Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for immune-mediated diseases. The company’s research centers on reactive aldehyde species, or RASP, which are inflammatory mediators that can contribute to tissue damage and disease progression.

Aldeyra’s lead investigational product is reproxalap, a small-molecule RASP inhibitor being developed for ocular conditions, including dry eye disease and allergic conjunctivitis. The company has also developed ADX-2191, an investigational intravitreal formulation of methotrexate intended for the treatment of certain rare retinal diseases, including proliferative vitreoretinopathy and retinitis pigmentosa.

Founded in 2008 and headquartered in Lexington, Massachusetts, Aldeyra conducts its research and clinical development activities primarily in the United States.