Aldeyra Therapeutics, Inc. (ALDX) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) from a sell rating to a buy rating in a research report sent to investors on Tuesday. The brokerage currently has $6.75 price objective on the biotechnology company’s stock.
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 topic of a number of other reports. HC Wainwright set a $18.00 target price on shares of Aldeyra Therapeutics and gave the company a buy rating in a research report on Wednesday, August 9th. ValuEngine upgraded shares of Aldeyra Therapeutics from a strong sell rating to a sell rating in a research report on Tuesday, September 12th. Canaccord Genuity reiterated a buy rating and issued a $27.00 price target (up from $12.00) on shares of Aldeyra Therapeutics in a research report on Wednesday, September 13th. Cantor Fitzgerald initiated coverage on shares of Aldeyra Therapeutics in a research report on Tuesday, October 24th. They issued an overweight rating and a $22.00 price target on the stock. Finally, Cowen and Company reiterated an outperform rating and issued a $14.00 price target (up from $9.00) on shares of Aldeyra Therapeutics in a research report on Thursday, September 14th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $17.29.
Aldeyra Therapeutics (NASDAQ:ALDX) traded up $0.05 on Tuesday, hitting $6.15. 38,287 shares of the stock traded hands, compared to its average volume of 296,136. 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 has a fifty-two week low of $3.80 and a fifty-two week high of $11.90.
Aldeyra Therapeutics (NASDAQ:ALDX) last issued its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.41) by $0.09. analysts expect that Aldeyra Therapeutics will post -1.39 earnings per share for the current year.
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In other Aldeyra Therapeutics news, major shareholder Life Sciences Maste Perceptive purchased 200,000 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was bought at an average cost of $7.25 per share, with a total value of $1,450,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 28.40% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Sphera Funds Management LTD. lifted its holdings in Aldeyra Therapeutics by 31.0% during 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 lifted its holdings in shares of 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 buying an additional 200,000 shares in the last quarter. Hikari Power Ltd lifted its holdings in shares of Aldeyra Therapeutics by 186.4% during the second quarter. Hikari Power Ltd now owns 107,858 shares of the biotechnology company’s stock worth $507,000 after buying an additional 70,196 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Aldeyra Therapeutics during the first quarter worth $132,000. Finally, Virtu KCG Holdings LLC acquired a new stake in shares of Aldeyra Therapeutics during the second quarter worth $104,000. 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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