Aldeyra Therapeutics (NASDAQ:ALDX) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a sell rating to a hold rating in a research report sent to investors on Monday morning, Zacks.com reports.

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. “

A number of other research firms also recently issued reports on ALDX. ValuEngine raised shares of Aldeyra Therapeutics from a hold rating to a buy rating in a research report on Tuesday, September 10th. Cantor Fitzgerald set a $33.00 target price on shares of Aldeyra Therapeutics and gave the stock a buy rating in a research report on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Aldeyra Therapeutics currently has an average rating of Buy and an average price target of $24.19.

ALDX traded down $0.04 on Monday, reaching $5.11. 16 shares of the company’s stock were exchanged, compared to its average volume of 246,116. The company’s 50 day moving average is $5.29 and its 200-day moving average is $6.42. The company has a market cap of $142.04 million, a price-to-earnings ratio of -2.90 and a beta of 0.86. Aldeyra Therapeutics has a twelve month low of $4.31 and a twelve month high of $13.32.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.51) by $0.02. As a group, equities research analysts forecast that Aldeyra Therapeutics will post -2.01 earnings per share for the current fiscal year.

In related news, Director Richard Douglas purchased 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average price of $5.00 per share, with a total value of $100,000.00. Following the completion of the transaction, the director now owns 70,000 shares of the company’s stock, valued at $350,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd C. Brady purchased 8,680 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were bought at an average cost of $5.81 per share, with a total value of $50,430.80. Following the transaction, the chief executive officer now directly owns 623,506 shares of the company’s stock, valued at approximately $3,622,569.86. The disclosure for this purchase can be found here. Insiders acquired 83,907 shares of company stock valued at $456,912 in the last ninety days. 13.50% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in ALDX. Mesirow Financial Investment Management Inc. grew its position in shares of Aldeyra Therapeutics by 12.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 62,736 shares of the biotechnology company’s stock worth $373,000 after buying an additional 6,775 shares in the last quarter. Strs Ohio grew its position in shares of Aldeyra Therapeutics by 7.5% during the second quarter. Strs Ohio now owns 71,900 shares of the biotechnology company’s stock worth $431,000 after buying an additional 5,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Aldeyra Therapeutics by 16.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 95,859 shares of the biotechnology company’s stock worth $575,000 after buying an additional 13,775 shares in the last quarter. Private Advisors LLC grew its position in shares of Aldeyra Therapeutics by 21.8% during the second quarter. Private Advisors LLC now owns 40,270 shares of the biotechnology company’s stock worth $242,000 after buying an additional 7,211 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Aldeyra Therapeutics by 47.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 61,536 shares of the biotechnology company’s stock worth $370,000 after buying an additional 19,826 shares in the last quarter. 61.26% of the stock is owned by institutional investors and hedge funds.

Aldeyra Therapeutics Company Profile

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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