Aldeyra Therapeutics’ (ALDX) “Buy” Rating Reiterated at BTIG Research

Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “buy” rating reiterated by research analysts at BTIG Research in a research note issued to investors on Tuesday, Benzinga reports.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen downgraded Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings lowered Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $5.50.

Aldeyra Therapeutics Trading Up 13.4%

Shares of ALDX traded up $0.15 during mid-day trading on Tuesday, reaching $1.31. The company’s stock had a trading volume of 4,056,073 shares, compared to its average volume of 1,751,128. Aldeyra Therapeutics has a 1-year low of $1.07 and a 1-year high of $5.93. The business has a 50-day simple moving average of $1.49 and a two-hundred day simple moving average of $1.75. The stock has a market cap of $79.33 million, a P/E ratio of -3.37 and a beta of 1.20.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). Research analysts anticipate that Aldeyra Therapeutics will post -0.39 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ALDX. Krilogy Financial LLC purchased a new stake in Aldeyra Therapeutics in the 1st quarter worth approximately $26,000. Abel Hall LLC bought a new stake in Aldeyra Therapeutics in the 1st quarter worth approximately $26,000. Chicago Partners Investment Group LLC bought a new position in Aldeyra Therapeutics during the first quarter valued at approximately $33,000. Hikari Power Ltd bought a new position in shares of Aldeyra Therapeutics during the 2nd quarter valued at $43,000. Finally, AXQ Capital LP purchased a new stake in Aldeyra Therapeutics during the 4th quarter valued at $139,000. Hedge funds and other institutional investors own 59.71% of the company’s stock.

Aldeyra Therapeutics Company Profile

Aldeyra Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for immune-mediated diseases. The company’s research centers on reactive aldehyde species, or RASP, which are inflammatory mediators that can contribute to tissue damage and disease progression.

Aldeyra’s lead investigational product is reproxalap, a small-molecule RASP inhibitor being developed for ocular conditions, including dry eye disease and allergic conjunctivitis. The company has also developed ADX-2191, an investigational intravitreal formulation of methotrexate intended for the treatment of certain rare retinal diseases, including proliferative vitreoretinopathy and retinitis pigmentosa.

Founded in 2008 and headquartered in Lexington, Massachusetts, Aldeyra conducts its research and clinical development activities primarily in the United States.