BTIG Research Reaffirms Buy Rating for Aldeyra Therapeutics (NASDAQ:ALDX)

Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “buy” rating reiterated by equities research analysts at BTIG Research in a research note issued on Tuesday, Benzinga reports.

Several other equities research analysts have also recently commented on the stock. Weiss Ratings cut shares of Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, September 14th. Wall Street Zen downgraded Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.50.

Aldeyra Therapeutics Price Performance

ALDX traded down $0.25 during trading on Tuesday, reaching $0.92. The company had a trading volume of 3,743,593 shares, compared to its average volume of 1,768,830. The business’s fifty day moving average price is $1.46 and its 200 day moving average price is $1.66. The company has a market cap of $55.68 million, a P/E ratio of -2.40 and a beta of 1.21. Aldeyra Therapeutics has a 12 month low of $0.94 and a 12 month high of $5.93.

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

Institutional Investors Weigh In On Aldeyra Therapeutics

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

Aldeyra Therapeutics Company Profile

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.