Aldeyra Therapeutics (NASDAQ:ALDX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

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. “

Several other research analysts have also issued reports on the company. Citigroup assumed coverage on Aldeyra Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $23.00 target price for the company. Cantor Fitzgerald reissued a “buy” rating and issued a $30.00 target price on shares of Aldeyra Therapeutics in a research report on Wednesday, November 14th. Janney Montgomery Scott increased their target price on Aldeyra Therapeutics to $28.00 and gave the stock a “positive” rating in a research report on Thursday, September 27th. Canaccord Genuity increased their target price on Aldeyra Therapeutics from $27.00 to $35.00 and gave the stock a “positive” rating in a research report on Wednesday, September 26th. Finally, Stifel Nicolaus increased their target price on Aldeyra Therapeutics from $16.00 to $36.00 and gave the stock an “in-line” rating in a research report on Wednesday, September 26th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $24.64.

NASDAQ ALDX traded down $0.23 on Thursday, hitting $9.81. The company’s stock had a trading volume of 12,712 shares, compared to its average volume of 206,599. Aldeyra Therapeutics has a 52-week low of $6.20 and a 52-week high of $16.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.82 and a current ratio of 4.82. The stock has a market cap of $263.49 million, a P/E ratio of -7.04 and a beta of 0.81.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its quarterly earnings data on Wednesday, November 14th. The biotechnology company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.05). Sell-side analysts predict that Aldeyra Therapeutics will post -1.83 earnings per share for the current year.

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of Aldeyra Therapeutics in the 2nd quarter worth approximately $1,335,000. Stonepine Capital Management LLC bought a new position in Aldeyra Therapeutics during the 3rd quarter valued at approximately $2,001,000. Gilder Gagnon Howe & Co. LLC bought a new position in Aldeyra Therapeutics during the 3rd quarter valued at approximately $3,010,000. EAM Investors LLC bought a new position in Aldeyra Therapeutics during the 3rd quarter valued at approximately $4,307,000. Finally, EAM Global Investors LLC bought a new position in Aldeyra Therapeutics during the 3rd quarter valued at approximately $1,195,000. 69.10% of the stock is owned by hedge funds and other institutional investors.

About Aldeyra Therapeutics

Aldeyra Therapeutics, Inc, a biotechnology company, focuses on the development of products for inflammation, inborn errors of metabolism, and other diseases in the United States and internationally. It is developing ADX-102, a small molecule designed to trap and allow for the degradation of aldehydes, as well as ADX-103 and ADX-104 novel candidates for the treatment of noninfectious anterior uveitis, allergic conjunctivitis, dry eye syndrome, sjögren-larsson syndrome, and succinic semi-aldehyde dehydrogenase deficiency.

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