Aldeyra Therapeutics (NASDAQ:ALDX) Stock Keeps Neutral Rating at HC Wainwright

Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “neutral” rating reiterated by HC Wainwright in a report issued on Wednesday, Benzinga reports. They currently have a $2.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 52.32% from the stock’s current price.

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

Aldeyra Therapeutics Trading Down 0.5%

ALDX stock traded down $0.01 during trading on Wednesday, reaching $1.31. 363,796 shares of the stock were exchanged, compared to its average volume of 1,750,699. The business has a 50 day moving average price of $1.48 and a 200-day moving average price of $1.73. Aldeyra Therapeutics has a 1 year low of $1.07 and a 1 year high of $5.93. The firm has a market capitalization of $79.21 million, a price-to-earnings ratio of -3.35 and a beta of 1.20.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). On average, research analysts anticipate that Aldeyra Therapeutics will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Aldeyra Therapeutics

Several institutional investors have recently modified their holdings of ALDX. 683 Capital Management LLC raised its stake in shares of Aldeyra Therapeutics by 86.6% in the fourth quarter. 683 Capital Management LLC now owns 1,530,000 shares of the biotechnology company’s stock valued at $7,925,000 after acquiring an additional 710,000 shares in the last quarter. BlackRock Inc. purchased a new stake in Aldeyra Therapeutics during the 2nd quarter worth about $2,678,000. Kennedy Capital Management LLC raised its position in Aldeyra Therapeutics by 12.9% in the 4th quarter. Kennedy Capital Management LLC now owns 1,255,838 shares of the biotechnology company’s stock valued at $6,505,000 after purchasing an additional 143,625 shares in the last quarter. Renaissance Technologies LLC raised its position in Aldeyra Therapeutics by 146.6% in the 1st quarter. Renaissance Technologies LLC now owns 863,187 shares of the biotechnology company’s stock valued at $1,459,000 after purchasing an additional 513,187 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Aldeyra Therapeutics by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 624,170 shares of the biotechnology company’s stock valued at $1,055,000 after buying an additional 11,912 shares during the period. Institutional investors and hedge funds own 59.71% of the company’s stock.

More Aldeyra Therapeutics News

Here are the key news stories impacting Aldeyra Therapeutics this week:

• Positive Sentiment: Aldeyra intends to submit a formal dispute resolution request regarding reproxalap after receiving the FDA’s third complete response letter. Investors appear encouraged that management is pursuing another regulatory avenue rather than abandoning the program. Aldeyra Announces Formal Dispute Resolution Request
• Positive Sentiment: BTIG Research reaffirmed its “buy” rating, while HC Wainwright maintained a “neutral” rating and set a $2.00 price target, implying substantial upside from the recently cited share price. These ratings may support sentiment, though the analyst views are mixed. Benzinga Analyst Rating Reports
• Neutral Sentiment: Aldeyra held a regulatory update focused on reproxalap and the FDA review process, providing investors with additional details about the company’s dispute resolution strategy. Aldeyra Reproxalap Regulatory Update Transcript
• Negative Sentiment: The FDA’s third complete response letter means reproxalap has again not been approved for dry eye disease. The dispute process could delay commercialization, require further evidence, and may ultimately fail, leaving Aldeyra dependent on a development program with significant regulatory risk. Aldeyra Plans FDA Dispute Request

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.