Aldeyra Therapeutics (NASDAQ:ALDX) Stock Rating Reaffirmed as “Neutral” by HC Wainwright

Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “neutral” rating reaffirmed by research analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They presently have a $2.00 price target on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 112.99% from the company’s previous close.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings lowered shares of Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 14th. BTIG Research reissued a “buy” rating on shares of Aldeyra Therapeutics in a report on Tuesday, September 29th. Finally, Wall Street Zen cut Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.50.

Aldeyra Therapeutics Price Performance

ALDX stock traded down $0.23 during trading on Wednesday, hitting $0.94. 5,824,952 shares of the stock traded hands, compared to its average volume of 1,779,786. Aldeyra Therapeutics has a 1 year low of $0.90 and a 1 year high of $5.93. The firm’s 50 day moving average is $1.46 and its two-hundred day moving average is $1.66. The stock has a market cap of $56.65 million, a price-to-earnings ratio of -2.37 and a beta of 1.21.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). As a group, analysts anticipate that Aldeyra Therapeutics will post -0.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Aldeyra Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new position in shares of Aldeyra Therapeutics in the 2nd quarter worth approximately $200,000. Two Sigma Securities LLC bought a new stake in Aldeyra Therapeutics during the second quarter valued at approximately $70,000. Palo Alto Investors LP bought a new stake in Aldeyra Therapeutics during the second quarter valued at approximately $331,660. Bank of America Corp DE purchased a new stake in Aldeyra Therapeutics during the second quarter valued at approximately $72,000. Finally, Man Group plc bought a new position in Aldeyra Therapeutics in the second quarter worth approximately $325,000. Hedge funds and other 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.