Aldeyra Therapeutics (NASDAQ:ALDX) Stock Rating Reaffirmed as “Neutral” by HC Wainwright

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

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

Aldeyra Therapeutics Stock Down 6.8%

Shares of NASDAQ:ALDX traded down $0.09 during trading on Wednesday, reaching $1.23. The stock had a trading volume of 1,650,628 shares, compared to its average volume of 1,759,286. The business has a fifty day moving average price of $1.48 and a 200-day moving average price of $1.73. The stock has a market cap of $74.20 million, a P/E ratio of -3.15 and a beta of 1.20. Aldeyra Therapeutics has a fifty-two week low of $1.07 and a fifty-two week high of $5.93.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). As a group, equities analysts forecast that Aldeyra Therapeutics will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Aldeyra Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. 683 Capital Management LLC increased its position in Aldeyra Therapeutics by 86.6% during the fourth quarter. 683 Capital Management LLC now owns 1,530,000 shares of the biotechnology company’s stock worth $7,925,000 after purchasing an additional 710,000 shares during the last quarter. Kennedy Capital Management LLC increased its position in Aldeyra Therapeutics by 12.9% during the fourth quarter. Kennedy Capital Management LLC now owns 1,255,838 shares of the biotechnology company’s stock worth $6,505,000 after purchasing an additional 143,625 shares during the last quarter. BlackRock Inc. acquired a new position in Aldeyra Therapeutics during the second quarter worth approximately $2,678,000. Renaissance Technologies LLC increased its position in Aldeyra Therapeutics by 146.6% during the first quarter. Renaissance Technologies LLC now owns 863,187 shares of the biotechnology company’s stock worth $1,459,000 after purchasing an additional 513,187 shares during the last quarter. Finally, 1492 Capital Management LLC acquired a new position in Aldeyra Therapeutics during the fourth quarter worth approximately $1,157,000. Institutional investors and hedge funds own 59.71% of the company’s stock.

Key Aldeyra Therapeutics News

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

• Positive Sentiment: Aldeyra intends to submit a formal dispute resolution request for reproxalap. If the FDA agrees to reconsider the company’s concerns, the process could provide another opportunity for the dry-eye treatment program and improve its commercial prospects. Aldeyra announces formal dispute resolution request
• Positive Sentiment: The dispute-resolution announcement prompted investor interest and a recent rally in ALDX shares as investors evaluated the possibility of a regulatory reversal. Aldeyra dispute plan triggers rally
• Positive Sentiment: BTIG Research reaffirmed its “buy” rating, while HC Wainwright maintained a “neutral” rating with a $2.00 price target—representing substantial potential upside from the recently referenced share price. Analyst rating updates
• Neutral Sentiment: Aldeyra discussed the FDA review process and formal dispute resolution request in an investor transcript, giving investors more detail on the company’s strategy and regulatory arguments. Aldeyra discusses FDA review process
• Negative Sentiment: The FDA has issued a third complete response letter for reproxalap, meaning the treatment remains unapproved and the company faces continued regulatory delays, execution risk, and uncertainty over whether the dispute request will change the outcome. Aldeyra plans FDA dispute request after third response letter

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.