Aldeyra Therapeutics’ (ALDX) “Neutral” Rating Reaffirmed at HC Wainwright

Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “neutral” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $2.00 target price on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 62.60% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. Weiss Ratings downgraded shares of Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 14th. Wall Street Zen downgraded shares of Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, BTIG Research reissued a “buy” rating on shares of Aldeyra Therapeutics in a research report on Tuesday. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.50.

Aldeyra Therapeutics Trading Down 6.8%

NASDAQ:ALDX traded down $0.09 on Wednesday, reaching $1.23. 1,650,628 shares of the stock traded hands, compared to its average volume of 1,759,286. The company has a market capitalization of $74.21 million, a price-to-earnings ratio of -3.15 and a beta of 1.20. Aldeyra Therapeutics has a 12 month low of $1.07 and a 12 month high of $5.93. The company’s fifty day simple moving average is $1.48 and its 200 day simple moving average is $1.73.

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

Institutional Investors Weigh In On Aldeyra Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALDX. Squarepoint Ops LLC purchased a new stake in Aldeyra Therapeutics in the second quarter worth approximately $200,000. Two Sigma Securities LLC purchased a new stake in Aldeyra Therapeutics in the second quarter worth approximately $70,000. Palo Alto Investors LP purchased a new stake in Aldeyra Therapeutics in the second quarter worth approximately $331,660. Bank of America Corp DE purchased a new stake in Aldeyra Therapeutics in the second quarter worth approximately $72,000. Finally, Man Group plc purchased a new stake in Aldeyra Therapeutics in the second quarter worth approximately $325,000. Hedge funds and other institutional investors own 59.71% of the company’s stock.

Key Headlines Impacting Aldeyra Therapeutics

Here are the key news stories impacting Aldeyra Therapeutics this week:

• Positive Sentiment: Aldeyra plans to submit a formal dispute resolution request (FDRR) to the FDA regarding reproxalap. The process gives the company an opportunity to contest the agency’s latest rejection and potentially seek another review of the drug candidate. Aldeyra Announces Intent to Submit Formal Dispute Resolution Request
• Positive Sentiment: Investors responded favorably to the dispute strategy, while BTIG Research reaffirmed its “buy” rating. The firm’s stance suggests potential upside if the FDA dispute leads to a viable path toward approval. Aldeyra Fights Back Against FDA Rejection
• Neutral Sentiment: HC Wainwright reaffirmed its “neutral” rating but set a $2.00 price target, implying substantial potential upside from the recent $1.23 reference price. The target reflects possible value in reproxalap but is not an endorsement that FDA approval is likely.
• Negative Sentiment: The FDA has issued a third CRL for reproxalap, underscoring continuing regulatory obstacles. The FDRR could take time and may not overturn the agency’s decision, leaving Aldeyra dependent on a successful regulatory appeal for its lead commercial opportunity. Aldeyra Plans Formal FDA Dispute Resolution Request

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.