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.
WARNING: “Aldeyra Therapeutics (ALDX) Downgraded by Zacks Investment Research to “Hold”” was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The legal version of this piece can be viewed at https://ledgergazette.com/2018/01/13/aldeyra-therapeutics-aldx-downgraded-by-zacks-investment-research-to-hold.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Aldeyra Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aldeyra Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.