HC Wainwright Reaffirms Neutral Rating for Aldeyra Therapeutics (NASDAQ:ALDX)

Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “neutral” rating restated by stock analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They currently have a $2.00 price objective on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 59.36% from the stock’s previous close.

A number of other analysts have also commented on ALDX. BTIG Research reaffirmed a “buy” rating on shares of Aldeyra Therapeutics in a research note on Tuesday. Wall Street Zen downgraded Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Weiss Ratings cut Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 14th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.50.

Aldeyra Therapeutics Stock Down 4.9%

Shares of ALDX stock traded down $0.07 during trading hours on Wednesday, hitting $1.26. 1,247,858 shares of the company’s stock traded hands, compared to its average volume of 1,756,994. The stock has a market cap of $75.71 million, a price-to-earnings ratio of -3.22 and a beta of 1.20. The stock’s fifty day simple moving average is $1.48 and its two-hundred day simple moving average is $1.73. Aldeyra Therapeutics has a 12-month low of $1.07 and a 12-month high of $5.93.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). On average, equities analysts forecast that Aldeyra Therapeutics will post -0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aldeyra Therapeutics

A number of large investors have recently bought and sold shares of ALDX. BlackRock Inc. purchased a new position in shares of Aldeyra Therapeutics during the second quarter valued at approximately $2,678,000. 683 Capital Management LLC increased its stake in shares of 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 valued at $7,925,000 after buying an additional 710,000 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Aldeyra Therapeutics during the second quarter valued at approximately $1,007,000. Renaissance Technologies LLC increased its stake in shares of Aldeyra Therapeutics by 146.6% during the first quarter. Renaissance Technologies LLC now owns 863,187 shares of the biotechnology company’s stock valued at $1,459,000 after buying an additional 513,187 shares during the period. Finally, Hikari Power Ltd purchased a new position in shares of Aldeyra Therapeutics during the second quarter valued at approximately $43,000. 59.71% of the stock is owned by hedge funds and other institutional investors.

More 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 to the FDA regarding reproxalap. The action gives the company an opportunity to contest the agency’s position and potentially advance the dry-eye program, which had prompted a rally in shares previously. Aldeyra Announces Intent to Submit Formal Dispute Resolution Request
• Positive Sentiment: BTIG Research reaffirmed its “buy” rating on ALDX, indicating that the analyst sees potential value despite the regulatory challenges.
• Neutral Sentiment: HC Wainwright reaffirmed its “neutral” rating and set a $2.00 price target, implying substantial upside from recent trading levels but signaling a cautious view of the risk-reward profile.
• Negative Sentiment: The dispute request follows a third FDA complete response letter for reproxalap. Until the FDA accepts or resolves the company’s appeal, the timing and likelihood of approval remain unclear, limiting investor confidence. Aldeyra Plans FDA Dispute Resolution Request After Third Complete 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.