Aldeyra Therapeutics (ALDX) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a buy rating to a hold rating in a report released on Tuesday.

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. “

Other research analysts have also recently issued reports about the company. Canaccord Genuity reiterated a buy rating and issued a $27.00 price objective (up from $12.00) on shares of Aldeyra Therapeutics in a report on Wednesday, September 13th. Cowen reiterated an outperform rating and issued a $14.00 price objective (up from $9.00) on shares of Aldeyra Therapeutics in a report on Thursday, September 14th. Cantor Fitzgerald initiated coverage on Aldeyra Therapeutics in a report on Tuesday, October 24th. They issued an overweight rating and a $22.00 price objective on the stock. Finally, ValuEngine cut Aldeyra Therapeutics from a hold rating to a sell rating in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $17.42.

Aldeyra Therapeutics (ALDX) opened at $6.85 on Tuesday. Aldeyra Therapeutics has a twelve month low of $3.80 and a twelve month high of $11.90. The company has a market capitalization of $131.91, a P/E ratio of -4.89 and a beta of 0.53. The company has a debt-to-equity ratio of 0.02, a current ratio of 20.35 and a quick ratio of 20.35.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its quarterly earnings data on Thursday, November 9th. The biotechnology company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.09. equities analysts anticipate that Aldeyra Therapeutics will post -1.39 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in ALDX. 683 Capital Management LLC lifted its stake in Aldeyra Therapeutics by 59.1% during the third quarter. 683 Capital Management LLC now owns 835,514 shares of the biotechnology company’s stock worth $6,016,000 after purchasing an additional 310,421 shares in the last quarter. Perceptive Advisors LLC lifted its stake in Aldeyra Therapeutics by 6.9% during the third quarter. Perceptive Advisors LLC now owns 3,085,458 shares of the biotechnology company’s stock worth $22,215,000 after purchasing an additional 200,000 shares in the last quarter. Sphera Funds Management LTD. lifted its stake in Aldeyra Therapeutics by 19.2% during the third quarter. Sphera Funds Management LTD. now owns 1,044,131 shares of the biotechnology company’s stock worth $7,518,000 after purchasing an additional 168,200 shares in the last quarter. Virtu KCG Holdings LLC acquired a new position in Aldeyra Therapeutics during the second quarter worth $104,000. Finally, Bank of New York Mellon Corp acquired a new position in Aldeyra Therapeutics during the third quarter worth $134,000. Institutional investors own 47.89% of the company’s stock.

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About Aldeyra Therapeutics

Aldeyra Therapeutics, Inc, formerly Aldexa Therapeutics, Inc, is a biotechnology company. The Company’s principal activities include raising capital and research and development activities. The Company’s segment is the identification and development of a treatment for diseases related to high levels of aldehydes.

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