Aldeyra Therapeutics, Inc (NASDAQ:ALDX) Receives Consensus Rating of “Buy” from Analysts

Aldeyra Therapeutics, Inc (NASDAQ:ALDX) has been given an average recommendation of “Buy” by the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $31.00.

ALDX has been the subject of several recent research reports. Zacks Investment Research cut Aldeyra Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine raised Aldeyra Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, June 22nd. Cantor Fitzgerald set a $33.00 price target on Aldeyra Therapeutics and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $20.00 price target (down previously from $35.00) on shares of Aldeyra Therapeutics in a research note on Friday, May 10th.

Shares of NASDAQ ALDX traded down $0.04 during trading hours on Wednesday, hitting $5.36. The stock had a trading volume of 64,399 shares, compared to its average volume of 405,288. The firm has a market capitalization of $143.23 million, a P/E ratio of -2.99 and a beta of 0.50. The company’s 50-day moving average price is $5.58. Aldeyra Therapeutics has a 52 week low of $4.99 and a 52 week high of $16.70.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.49) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.51) by $0.02. On average, equities analysts predict that Aldeyra Therapeutics will post -2.02 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. acquired a new stake in shares of Aldeyra Therapeutics during the second quarter worth about $67,000. Cubist Systematic Strategies LLC bought a new position in shares of Aldeyra Therapeutics during the second quarter worth about $30,000. Point72 Asset Management L.P. bought a new position in shares of Aldeyra Therapeutics during the second quarter worth about $1,950,000. Algert Global LLC grew its holdings in shares of Aldeyra Therapeutics by 28.6% during the second quarter. Algert Global LLC now owns 29,840 shares of the biotechnology company’s stock worth $179,000 after buying an additional 6,631 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Aldeyra Therapeutics by 4.0% during the second quarter. Vanguard Group Inc. now owns 1,111,944 shares of the biotechnology company’s stock worth $6,671,000 after buying an additional 42,869 shares in the last quarter. Hedge funds and other institutional investors own 59.54% 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.

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Analyst Recommendations for Aldeyra Therapeutics (NASDAQ:ALDX)

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