Zacks Investment Research upgraded shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a sell rating to a buy rating in a research report released on Tuesday, Zacks.com reports. The brokerage currently has $5.75 price target on the biotechnology company’s stock.
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. “
Several other analysts have also recently issued reports on ALDX. Canaccord Genuity reaffirmed a buy rating and set a $20.00 price objective (down previously from $35.00) on shares of Aldeyra Therapeutics in a research note on Friday, May 10th. ValuEngine raised shares of Aldeyra Therapeutics from a hold rating to a buy rating in a research note on Saturday, June 22nd. Finally, Cantor Fitzgerald set a $33.00 price objective on shares of Aldeyra Therapeutics and gave the company a buy rating in a research note on Tuesday, June 25th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $26.79.
Shares of NASDAQ ALDX opened at $4.90 on Tuesday. Aldeyra Therapeutics has a 12-month low of $4.83 and a 12-month high of $16.70. The company has a 50-day moving average of $5.56 and a 200 day moving average of $7.25.
Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.02. As a group, equities analysts forecast that Aldeyra Therapeutics will post -2 earnings per share for the current year.
Large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA acquired a new position in Aldeyra Therapeutics in the 1st quarter valued at about $40,000. Cubist Systematic Strategies LLC acquired a new position in Aldeyra Therapeutics in the 2nd quarter valued at about $30,000. D. E. Shaw & Co. Inc. acquired a new position in Aldeyra Therapeutics in the 2nd quarter valued at about $67,000. Bank of America Corp DE boosted its holdings in Aldeyra Therapeutics by 139.4% in the 4th quarter. Bank of America Corp DE now owns 12,181 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 7,093 shares during the last quarter. Finally, Ironwood Investment Management LLC acquired a new position in Aldeyra Therapeutics in the 1st quarter valued at about $116,000. Institutional investors own 59.54% of the company’s stock.
About Aldeyra Therapeutics
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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