ValuEngine Upgrades Aldeyra Therapeutics (ALDX) to Buy

ValuEngine upgraded shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a hold rating to a buy rating in a report issued on Thursday.

Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald reiterated a buy rating and issued a $23.00 price target on shares of Aldeyra Therapeutics in a research report on Tuesday, June 26th. Zacks Investment Research downgraded shares of Aldeyra Therapeutics from a hold rating to a sell rating in a research report on Tuesday, August 14th. Canaccord Genuity reiterated a buy rating and issued a $27.00 price target on shares of Aldeyra Therapeutics in a research report on Friday, August 10th. Finally, Janney Montgomery Scott started coverage on shares of Aldeyra Therapeutics in a research report on Thursday, September 13th. They issued a buy rating for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Aldeyra Therapeutics currently has a consensus rating of Buy and a consensus target price of $17.63.

NASDAQ ALDX opened at $9.10 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.11 and a quick ratio of 8.11. Aldeyra Therapeutics has a 1-year low of $5.55 and a 1-year high of $9.56. The company has a market capitalization of $190.87 million, a PE ratio of -6.50 and a beta of 0.55.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its quarterly earnings results on Thursday, August 9th. The biotechnology company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.03). sell-side analysts anticipate that Aldeyra Therapeutics will post -1.78 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Northern Trust Corp raised its position in Aldeyra Therapeutics by 297.2% during the second quarter. Northern Trust Corp now owns 191,275 shares of the biotechnology company’s stock valued at $1,520,000 after purchasing an additional 143,124 shares in the last quarter. Bank of New York Mellon Corp raised its position in Aldeyra Therapeutics by 139.7% during the second quarter. Bank of New York Mellon Corp now owns 49,842 shares of the biotechnology company’s stock valued at $396,000 after purchasing an additional 29,051 shares in the last quarter. BlackRock Inc. raised its position in Aldeyra Therapeutics by 1,881.2% during the second quarter. BlackRock Inc. now owns 780,744 shares of the biotechnology company’s stock valued at $6,207,000 after purchasing an additional 741,337 shares in the last quarter. Stanley Laman Group Ltd. raised its position in Aldeyra Therapeutics by 54.4% during the second quarter. Stanley Laman Group Ltd. now owns 98,892 shares of the biotechnology company’s stock valued at $786,000 after purchasing an additional 34,863 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. acquired a new position in Aldeyra Therapeutics during the second quarter valued at approximately $237,000. Institutional investors and hedge funds own 57.83% of the company’s stock.

About Aldeyra Therapeutics

Aldeyra Therapeutics, Inc, a biotechnology company, focuses on the development of products for inflammation, inborn errors of metabolism, and other diseases in the United States and internationally. It is developing ADX-102, a small molecule designed to trap and allow for the degradation of aldehydes, as well as ADX-103 and ADX-104 novel candidates for the treatment of noninfectious anterior uveitis, allergic conjunctivitis, dry eye syndrome, sjögren-larsson syndrome, and succinic semi-aldehyde dehydrogenase deficiency.

See Also: Should You Consider an Index Fund?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Aldeyra Therapeutics (NASDAQ:ALDX)

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.

Leave a Reply