Aldeyra Therapeutics (NASDAQ:ALDX) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a hold rating to a sell rating in a research note published 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 equities analysts also recently issued reports on the company. Canaccord Genuity cut their target price on Cronos Group from C$17.00 to C$16.00 in a research note on Friday, May 10th. ValuEngine raised Zumiez from a sell rating to a hold rating in a research note on Saturday, June 22nd. Cantor Fitzgerald set a $33.00 target price on Aldeyra Therapeutics and gave the stock a buy rating in a research note on Tuesday, June 25th. Finally, Citigroup increased their target price on Aldeyra Therapeutics from $32.00 to $38.00 and gave the stock a positive rating in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Aldeyra Therapeutics has an average rating of Buy and an average price target of $31.00.



ALDX traded down $0.26 on Wednesday, hitting $5.73. 135,000 shares of the company traded hands, compared to its average volume of 448,509. The stock’s 50 day moving average is $6.63. The firm has a market cap of $165.50 million, a PE ratio of -3.20 and a beta of 0.67. Aldeyra Therapeutics has a 12-month low of $4.99 and a 12-month high of $16.70.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its earnings results on Thursday, May 9th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.02. Equities analysts forecast that Aldeyra Therapeutics will post -2.02 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALDX. Private Advisors LLC raised its holdings in Aldeyra Therapeutics by 50.0% during the first quarter. Private Advisors LLC now owns 33,059 shares of the biotechnology company’s stock worth $299,000 after purchasing an additional 11,020 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in Aldeyra Therapeutics during the first quarter worth approximately $244,000. Prescott Group Capital Management L.L.C. bought a new position in shares of Aldeyra Therapeutics in the first quarter valued at $948,000. Ironwood Investment Management LLC bought a new position in shares of Aldeyra Therapeutics in the first quarter valued at $116,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Aldeyra Therapeutics by 74.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,084 shares of the biotechnology company’s stock valued at $741,000 after buying an additional 34,904 shares in the last quarter. Institutional investors and hedge funds own 59.52% of the company’s stock.

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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