Aldeyra Therapeutics, Inc. (ALDX) Stock Rating Reaffirmed by Cowen and Company
Aldeyra Therapeutics, Inc. (NASDAQ:ALDX)‘s stock had its “outperform” rating reissued by analysts at Cowen and Company in a note issued to investors on Thursday. They presently have a $14.00 target price on the biotechnology company’s stock, up from their prior target price of $9.00. Cowen and Company’s price target would suggest a potential upside of 115.38% from the stock’s current price.
A number of other research firms have also recently weighed in on ALDX. Canaccord Genuity restated a “buy” rating and issued a $27.00 price target (up previously from $12.00) on shares of Aldeyra Therapeutics in a research note on Wednesday. ValuEngine upgraded Aldeyra Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Stifel Nicolaus reiterated a “buy” rating and set a $16.00 price objective on shares of Aldeyra Therapeutics in a research report on Wednesday, May 31st. Zacks Investment Research cut Aldeyra Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Finally, HC Wainwright set a $18.00 price objective on Aldeyra Therapeutics and gave the stock a “buy” rating in a research report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $15.95.
Shares of Aldeyra Therapeutics (NASDAQ ALDX) opened at 6.35 on Thursday. The firm’s market cap is $39.66 million. The stock has a 50 day moving average of $4.40 and a 200 day moving average of $4.66. Aldeyra Therapeutics has a 52 week low of $3.80 and a 52 week high of $8.19.
Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.02. Equities analysts forecast that Aldeyra Therapeutics will post ($1.63) earnings per share for the current year.
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In other news, major shareholder Life Sciences Maste Perceptive acquired 296,007 shares of the stock in a transaction on Friday, June 30th. The shares were purchased at an average price of $4.60 per share, for a total transaction of $1,361,632.20. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 28.40% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu KCG Holdings LLC acquired a new stake in shares of Aldeyra Therapeutics during the 2nd quarter worth $104,000. Renaissance Technologies LLC acquired a new stake in shares of Aldeyra Therapeutics during the 1st quarter worth $132,000. Hikari Power Ltd grew its holdings in shares of Aldeyra Therapeutics by 186.4% during the 2nd quarter. Hikari Power Ltd now owns 107,858 shares of the biotechnology company’s stock worth $507,000 after purchasing an additional 70,196 shares in the last quarter. Sabby Management LLC acquired a new stake in shares of Aldeyra Therapeutics during the 1st quarter worth $898,000. Finally, Vanguard Group Inc. grew 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 purchasing an additional 9,407 shares in the last quarter. 49.09% of the stock is currently owned by institutional investors.
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.
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