Aldeyra Therapeutics (NASDAQ:ALDX) Stock Rating Reaffirmed as Buy by BTIG Research

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

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

Aldeyra Therapeutics Price Performance

Shares of NASDAQ:ALDX traded up $0.16 during trading on Tuesday, reaching $1.32. 5,415,169 shares of the stock were exchanged, compared to its average volume of 1,759,635. Aldeyra Therapeutics has a 1-year low of $1.07 and a 1-year high of $5.93. The stock has a fifty day moving average of $1.49 and a two-hundred day moving average of $1.75. The firm has a market cap of $79.64 million, a price-to-earnings ratio of -3.38 and a beta of 1.20.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). Sell-side analysts forecast that Aldeyra Therapeutics will post -0.39 EPS for the current year.

Institutional Trading of Aldeyra Therapeutics

Large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Aldeyra Therapeutics in the second quarter valued at approximately $2,678,000. 683 Capital Management LLC raised its position in shares of Aldeyra Therapeutics by 86.6% in the fourth quarter. 683 Capital Management LLC now owns 1,530,000 shares of the biotechnology company’s stock worth $7,925,000 after buying an additional 710,000 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Aldeyra Therapeutics during the 2nd quarter valued at about $1,007,000. Renaissance Technologies LLC grew its holdings in shares of Aldeyra Therapeutics by 146.6% during the first quarter. Renaissance Technologies LLC now owns 863,187 shares of the biotechnology company’s stock worth $1,459,000 after purchasing an additional 513,187 shares in the last quarter. Finally, Hikari Power Ltd bought a new position in shares of Aldeyra Therapeutics in the second quarter worth approximately $43,000. 59.71% of the stock is owned by hedge funds and other institutional investors.

About Aldeyra Therapeutics

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.