Stifel Nicolaus Raises Aldeyra Therapeutics (ALDX) Price Target to $36.00

Aldeyra Therapeutics (NASDAQ:ALDX) had its target price hoisted by Stifel Nicolaus from $16.00 to $36.00 in a research report released on Wednesday, The Fly reports. They currently have an in-line rating on the biotechnology company’s stock. The analysts noted that the move was a valuation call.

Other equities analysts have also issued research reports about the company. ValuEngine lowered Aldeyra Therapeutics from a strong-buy rating to a buy rating in a research note on Monday, July 30th. Cantor Fitzgerald reiterated a buy rating and issued a $23.00 target price on shares of Aldeyra Therapeutics in a research note on Tuesday, June 26th. Zacks Investment Research lowered Aldeyra Therapeutics from a hold rating to a sell rating in a research note on Tuesday, August 14th. Canaccord Genuity reiterated a buy rating and issued a $27.00 target price on shares of Aldeyra Therapeutics in a research note on Friday, August 10th. Finally, Janney Montgomery Scott assumed coverage on Aldeyra Therapeutics in a research note on Thursday, September 13th. They issued a buy rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Aldeyra Therapeutics presently has an average rating of Buy and a consensus target price of $24.92.

Shares of ALDX stock traded up $1.10 on Wednesday, hitting $14.45. The stock had a trading volume of 62,326 shares, compared to its average volume of 133,862. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.11 and a quick ratio of 8.11. The company has a market capitalization of $207.65 million, a P/E ratio of -9.61 and a beta of 0.55. Aldeyra Therapeutics has a one year low of $5.55 and a one year high of $16.70.

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

Several hedge funds have recently modified their holdings of ALDX. Northern Trust Corp grew its stake in shares of Aldeyra Therapeutics by 34.3% during the first quarter. Northern Trust Corp now owns 48,151 shares of the biotechnology company’s stock worth $361,000 after acquiring an additional 12,290 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Aldeyra Therapeutics by 19.8% during the first quarter. JPMorgan Chase & Co. now owns 59,502 shares of the biotechnology company’s stock worth $446,000 after acquiring an additional 9,826 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Aldeyra Therapeutics by 22.6% during the first quarter. Dimensional Fund Advisors LP now owns 62,429 shares of the biotechnology company’s stock worth $468,000 after acquiring an additional 11,506 shares during the last quarter. Element Capital Management LLC purchased a new stake in shares of Aldeyra Therapeutics during the first quarter worth about $123,000. Finally, Millennium Management LLC grew its stake in shares of Aldeyra Therapeutics by 5.2% during the first quarter. Millennium Management LLC now owns 753,143 shares of the biotechnology company’s stock worth $5,649,000 after acquiring an additional 37,464 shares during the last quarter. Institutional investors and hedge funds own 57.83% of the company’s stock.

Aldeyra Therapeutics Company Profile

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.

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