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

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

Several other research firms also recently commented on ALDX. Weiss Ratings downgraded Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, September 14th. Wall Street Zen downgraded shares of Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.50.

Aldeyra Therapeutics Trading Up 13.8%

ALDX stock traded up $0.16 on Tuesday, hitting $1.32. The company’s stock had a trading volume of 5,409,253 shares, compared to its average volume of 1,759,559. The firm has a 50 day moving average of $1.49 and a two-hundred day moving average of $1.75. Aldeyra Therapeutics has a 1 year low of $1.07 and a 1 year high of $5.93. The stock 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 posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). As a group, equities analysts forecast that Aldeyra Therapeutics will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Aldeyra Therapeutics

Large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Aldeyra Therapeutics during the 2nd quarter valued at $2,678,000. 683 Capital Management LLC grew its holdings in Aldeyra Therapeutics by 86.6% during the 4th quarter. 683 Capital Management LLC now owns 1,530,000 shares of the biotechnology company’s stock valued at $7,925,000 after buying an additional 710,000 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Aldeyra Therapeutics during the 2nd quarter valued at $1,007,000. Renaissance Technologies LLC grew its holdings in Aldeyra Therapeutics by 146.6% during the 1st quarter. Renaissance Technologies LLC now owns 863,187 shares of the biotechnology company’s stock valued at $1,459,000 after buying an additional 513,187 shares during the last quarter. Finally, Hikari Power Ltd purchased a new stake in shares of Aldeyra Therapeutics during the second quarter worth about $43,000. Institutional investors and hedge funds own 59.71% of the company’s stock.

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.