Zacks Investment Research downgraded shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a hold rating to a sell rating in a report issued on Thursday.
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. “
Other equities analysts also recently issued reports about the stock. Cantor Fitzgerald set a $30.00 target price on shares of Aldeyra Therapeutics and gave the stock a buy rating in a research note on Thursday, October 4th. Janney Montgomery Scott initiated coverage on shares of Aldeyra Therapeutics in a research note on Thursday, September 13th. They issued a buy rating on the stock. Canaccord Genuity restated a buy rating and issued a $27.00 target price on shares of Aldeyra Therapeutics in a research note on Friday, August 10th. ValuEngine upgraded shares of Aldeyra Therapeutics from a hold rating to a buy rating in a research note on Thursday, September 20th. Finally, Citigroup initiated coverage on shares of Aldeyra Therapeutics in a research note on Tuesday. They issued a buy rating and a $23.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Aldeyra Therapeutics presently has an average rating of Buy and a consensus target price of $24.64.
Aldeyra Therapeutics (NASDAQ:ALDX) last issued its earnings results on Wednesday, November 14th. The biotechnology company reported ($0.52) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.47) by ($0.05). On average, equities analysts forecast that Aldeyra Therapeutics will post -1.83 EPS for the current year.
A number of hedge funds have recently modified their holdings of ALDX. Rhumbline Advisers bought a new position in Aldeyra Therapeutics in the 2nd quarter worth about $113,000. Bank of New York Mellon Corp lifted its position in shares of Aldeyra Therapeutics by 139.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,842 shares of the biotechnology company’s stock worth $396,000 after purchasing an additional 29,051 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Aldeyra Therapeutics in the 2nd quarter worth approximately $1,335,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Aldeyra Therapeutics in the 2nd quarter worth approximately $237,000. Finally, Stanley Laman Group Ltd. lifted its position in shares of Aldeyra Therapeutics by 54.4% in the 2nd quarter. Stanley Laman Group Ltd. now owns 98,892 shares of the biotechnology company’s stock worth $786,000 after purchasing an additional 34,863 shares during the period. Institutional investors and hedge funds own 69.10% 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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