Canaccord Genuity reaffirmed their buy rating on shares of Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) in a research report sent to investors on Wednesday morning. Canaccord Genuity currently has a $27.00 price objective on the biotechnology company’s stock, up from their prior price objective of $12.00.
A number of other research firms also recently issued reports on ALDX. HC Wainwright set a $18.00 price target on shares of Aldeyra Therapeutics and gave the company a buy rating in a research note on Thursday, June 15th. ValuEngine downgraded shares of Aldeyra Therapeutics from a sell rating to a strong sell rating in a research note on Wednesday, September 6th. Zacks Investment Research downgraded shares of Aldeyra Therapeutics from a buy rating to a hold rating in a research note on Tuesday, May 30th. Finally, Stifel Nicolaus reissued a buy rating and issued a $16.00 price target on shares of Aldeyra Therapeutics in a research note on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $15.95.
Shares of Aldeyra Therapeutics (ALDX) traded down 17.59% during trading on Wednesday, hitting $8.90. 6,112,126 shares of the stock were exchanged. Aldeyra Therapeutics has a one year low of $3.80 and a one year high of $11.90. The stock’s 50 day moving average price is $4.74 and its 200-day moving average price is $4.75. The company’s market cap is $55.58 million.
Aldeyra Therapeutics (NASDAQ:ALDX) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.02. On average, analysts predict that Aldeyra Therapeutics will post ($1.63) EPS for the current year.
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In other Aldeyra Therapeutics news, major shareholder Life Sciences Maste Perceptive bought 296,007 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The shares were purchased at an average cost of $4.60 per share, with a total value of $1,361,632.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 28.40% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ALDX. Sphera Funds Management LTD. increased its stake in Aldeyra Therapeutics by 81.4% during the 1st quarter. Sphera Funds Management LTD. now owns 668,500 shares of the biotechnology company’s stock worth $3,343,000 after buying an additional 300,000 shares during the period. Renaissance Technologies LLC purchased a new stake in Aldeyra Therapeutics during the 1st quarter worth approximately $132,000. Sabby Management LLC purchased a new stake in Aldeyra Therapeutics during the 1st quarter worth approximately $898,000. Perceptive Advisors LLC increased its stake in Aldeyra Therapeutics by 48.7% during the 1st quarter. Perceptive Advisors LLC now owns 2,885,458 shares of the biotechnology company’s stock worth $12,897,000 after buying an additional 945,000 shares during the period. Finally, Hikari Power Ltd increased its stake in Aldeyra Therapeutics by 186.4% during the 2nd quarter. Hikari Power Ltd now owns 107,858 shares of the biotechnology company’s stock worth $507,000 after buying an additional 70,196 shares during the period. 49.09% of the stock is currently owned by hedge funds and other institutional investors.
Aldeyra Therapeutics Company Profile
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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