Aldeyra Therapeutics (NASDAQ:ALDX) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a buy rating to a hold rating in a report released on Wednesday, 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 have also recently commented on ALDX. Janney Montgomery Scott reaffirmed a market perform rating and set a $28.00 target price on shares of Aldeyra Therapeutics in a research note on Tuesday, May 26th. Oppenheimer started coverage on Aldeyra Therapeutics in a research note on Tuesday, July 7th. They set a buy rating and a $15.00 target price on the stock. Finally, Laidlaw reaffirmed a buy rating and set a $30.00 target price on shares of Aldeyra Therapeutics in a research note on Tuesday, May 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Aldeyra Therapeutics currently has an average rating of Buy and an average target price of $21.75.

Shares of NASDAQ ALDX opened at $4.82 on Wednesday. The business’s 50 day moving average is $4.49 and its two-hundred day moving average is $4.23. The company has a debt-to-equity ratio of 0.34, a current ratio of 12.84 and a quick ratio of 12.84. Aldeyra Therapeutics has a 1-year low of $1.48 and a 1-year high of $8.05.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.34) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.14. On average, research analysts predict that Aldeyra Therapeutics will post -1.51 EPS for the current year.

A number of large investors have recently made changes to their positions in ALDX. Spark Investment Management LLC bought a new position in Aldeyra Therapeutics in the first quarter worth approximately $40,000. Citigroup Inc. grew its stake in Aldeyra Therapeutics by 64.6% in the fourth quarter. Citigroup Inc. now owns 9,298 shares of the biotechnology company’s stock worth $54,000 after purchasing an additional 3,649 shares in the last quarter. Trexquant Investment LP bought a new position in Aldeyra Therapeutics in the fourth quarter worth approximately $71,000. Squarepoint Ops LLC bought a new position in Aldeyra Therapeutics in the first quarter worth approximately $75,000. Finally, Acadian Asset Management LLC grew its stake in Aldeyra Therapeutics by 559.5% in the first quarter. Acadian Asset Management LLC now owns 33,098 shares of the biotechnology company’s stock worth $82,000 after purchasing an additional 28,079 shares in the last quarter. 56.35% of the stock is currently owned by institutional investors.

About Aldeyra Therapeutics

Aldeyra Therapeutics is a clinical-stage biotechnology company focused on the development of novel therapies with the potential to improve the lives of patients with immune-mediated diseases. Two of the company’s lead compounds, reproxalap and ADX-629, target reactive aldehyde species (RASP), which are elevated in ocular and systemic inflammatory disease, leading to elevated levels of cytokine release via activation of a broad array of inflammatory factors, including NF-κB, inflammasomes, and Scavenger Receptor A.

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