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

Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “neutral” rating restated by analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $2.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target suggests a potential upside of 61.94% from the company’s current price.

Several other equities research analysts also recently commented on ALDX. 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 reiterated a “buy” rating on shares of Aldeyra Therapeutics in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.50.

Aldeyra Therapeutics Trading Down 6.4%

NASDAQ:ALDX traded down $0.09 during mid-day trading on Wednesday, hitting $1.24. 1,436,733 shares of the company’s stock were exchanged, compared to its average volume of 1,757,538. The company has a 50 day simple moving average of $1.48 and a 200-day simple moving average of $1.73. Aldeyra Therapeutics has a fifty-two week low of $1.07 and a fifty-two week high of $5.93. The firm has a market capitalization of $74.51 million, a P/E ratio of -3.17 and a beta of 1.20.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). As a group, analysts expect that Aldeyra Therapeutics will post -0.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALDX. Squarepoint Ops LLC acquired a new position in shares of Aldeyra Therapeutics in the 2nd quarter worth approximately $200,000. Two Sigma Securities LLC acquired a new position in shares of Aldeyra Therapeutics in the 2nd quarter worth approximately $70,000. Palo Alto Investors LP acquired a new position in shares of Aldeyra Therapeutics in the 2nd quarter worth approximately $331,660. Bank of America Corp DE acquired a new position in shares of Aldeyra Therapeutics in the 2nd quarter worth approximately $72,000. Finally, Man Group plc acquired a new position in shares of Aldeyra Therapeutics in the 2nd quarter worth approximately $325,000. Institutional investors and hedge funds own 59.71% of the company’s stock.

Aldeyra Therapeutics News Roundup

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

• Positive Sentiment: Aldeyra plans to submit a formal dispute resolution request to the FDA regarding reproxalap. The request could give the company an opportunity to challenge issues underlying the latest rejection and potentially reopen the regulatory review process. Aldeyra Announces Intent to Submit Formal Dispute Resolution Request
• Positive Sentiment: The announcement prompted a positive investor reaction during Tuesday trading as markets viewed the dispute process as a potential path forward for reproxalap, Aldeyra’s key dry-eye candidate. Aldeyra Fights Back Against FDA Rejection
• Positive Sentiment: BTIG Research reaffirmed its “buy” rating, providing continued analyst support for the company’s shares.
• Positive Sentiment: HC Wainwright reaffirmed a “neutral” rating but set a $2.00 price target, implying substantial potential upside from the referenced $1.25 share price. The neutral rating indicates that the firm remains cautious despite the target.
• Neutral Sentiment: Aldeyra held a regulatory update focused on reproxalap and the FDA review process. The webcast provided context for the formal dispute resolution request but does not change the fact that the drug remains unapproved. Aldeyra Regulatory Update Webcast
• Negative Sentiment: The FDA’s third complete response letter represents a significant regulatory setback for reproxalap. The dispute process is not a guarantee of approval, and continued delays could increase financing needs and uncertainty for this development-stage biotechnology company. Aldeyra Plans FDA Dispute 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.