Aldeyra Therapeutics’ (ALDX) “Buy” Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of Aldeyra Therapeutics (NASDAQ:ALDX) in a research report sent to investors on Tuesday,Benzinga reports.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, September 14th. Wall Street Zen cut shares of Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.50.

Aldeyra Therapeutics Stock Up 4.9%

Shares of ALDX opened at $1.29 on Tuesday. The stock’s 50-day moving average price is $1.47 and its 200 day moving average price is $1.68. The firm has a market capitalization of $77.83 million, a price-to-earnings ratio of -3.31 and a beta of 1.21. Aldeyra Therapeutics has a 12-month low of $1.07 and a 12-month high of $5.93.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). Equities research analysts expect that Aldeyra Therapeutics will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Aldeyra Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Abel Hall LLC bought a new stake in Aldeyra Therapeutics in the first quarter valued at $26,000. Krilogy Financial LLC bought a new position in shares of Aldeyra Therapeutics during the first quarter valued at $26,000. Chicago Partners Investment Group LLC acquired a new stake in shares of Aldeyra Therapeutics in the 1st quarter valued at $33,000. Hikari Power Ltd acquired a new stake in shares of Aldeyra Therapeutics in the 2nd quarter valued at $43,000. Finally, Two Sigma Securities LLC bought a new stake in shares of Aldeyra Therapeutics in the 2nd quarter worth about $70,000. Institutional investors own 59.71% of the company’s stock.

About Aldeyra Therapeutics

Aldeyra Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for immune-mediated diseases. The company’s research centers on reactive aldehyde species, or RASP, which are inflammatory mediators that can contribute to tissue damage and disease progression.

Aldeyra’s lead investigational product is reproxalap, a small-molecule RASP inhibitor being developed for ocular conditions, including dry eye disease and allergic conjunctivitis. The company has also developed ADX-2191, an investigational intravitreal formulation of methotrexate intended for the treatment of certain rare retinal diseases, including proliferative vitreoretinopathy and retinitis pigmentosa.

Founded in 2008 and headquartered in Lexington, Massachusetts, Aldeyra conducts its research and clinical development activities primarily in the United States.