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

Aldeyra Therapeutics (NASDAQ:ALDX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, 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. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on Aldeyra Therapeutics from $22.00 to $25.00 in a research note on Wednesday, April 28th. Citigroup upped their target price on shares of Aldeyra Therapeutics from $22.00 to $25.00 in a research note on Wednesday, April 28th. SVB Leerink reiterated a “buy” rating and issued a $22.00 price target on shares of Aldeyra Therapeutics in a research note on Sunday, April 25th. Finally, HC Wainwright started coverage on shares of Aldeyra Therapeutics in a research report on Monday, February 8th. They issued a “buy” rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $24.63.

Shares of NASDAQ ALDX traded down $0.49 during midday trading on Tuesday, reaching $12.00. The company had a trading volume of 61,484 shares, compared to its average volume of 2,242,689. Aldeyra Therapeutics has a 1 year low of $2.60 and a 1 year high of $15.95. The company has a current ratio of 13.65, a quick ratio of 13.65 and a debt-to-equity ratio of 0.18. The stock has a market cap of $570.53 million, a P/E ratio of -9.31 and a beta of 1.86. The business’s 50-day simple moving average is $11.82 and its 200 day simple moving average is $9.86.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings results on Wednesday, March 10th. The biotechnology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.02). Analysts predict that Aldeyra Therapeutics will post -1.12 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. boosted its stake in shares of Aldeyra Therapeutics by 95.0% during the 4th quarter. Citigroup Inc. now owns 44,193 shares of the biotechnology company’s stock worth $303,000 after acquiring an additional 21,535 shares in the last quarter. One68 Global Capital LLC purchased a new position in shares of Aldeyra Therapeutics in the fourth quarter valued at $123,000. Renaissance Technologies LLC acquired a new position in shares of Aldeyra Therapeutics during the 4th quarter worth $369,000. Virtu Financial LLC acquired a new stake in Aldeyra Therapeutics in the 3rd quarter valued at about $210,000. Finally, New York Life Investments Alternatives purchased a new position in Aldeyra Therapeutics during the 4th quarter valued at about $383,000. 61.29% of the stock is 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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