Aldeyra Therapeutics (ALDX) Stock Rating Lowered by Zacks Investment Research
Aldeyra Therapeutics (NASDAQ:ALDX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Aldeyra Therapeutics, Inc. is a biotechnology company. The company’s products target immune-mediated, inflammatory, orphan, and other diseases. It is developing NS2, a compound that binds and traps free aldehydes. Aldeyra Therapeutics, Inc. is based in Burlington, Massachusetts. “
A number of other analysts also recently weighed in on the company. Citigroup began coverage on Aldeyra Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $23.00 price target on the stock. Cantor Fitzgerald restated a “buy” rating and issued a $30.00 price target on shares of Aldeyra Therapeutics in a research note on Wednesday, November 14th. Janney Montgomery Scott lifted their price target on Aldeyra Therapeutics to $28.00 and gave the company a “positive” rating in a research note on Thursday, September 27th. Canaccord Genuity lifted their price target on Aldeyra Therapeutics from $27.00 to $35.00 and gave the company a “positive” rating in a research note on Wednesday, September 26th. Finally, Stifel Nicolaus lifted their price target on Aldeyra Therapeutics from $16.00 to $36.00 and gave the company an “in-line” rating in a research note on Wednesday, September 26th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $24.64.
Aldeyra Therapeutics (NASDAQ:ALDX) last announced its earnings results on Wednesday, November 14th. The biotechnology company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.05). Equities analysts predict that Aldeyra Therapeutics will post -1.83 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in shares of Aldeyra Therapeutics in the second quarter valued at approximately $1,335,000. Stonepine Capital Management LLC purchased a new stake in shares of Aldeyra Therapeutics in the third quarter valued at approximately $2,001,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Aldeyra Therapeutics in the third quarter valued at approximately $3,010,000. EAM Global Investors LLC purchased a new stake in shares of Aldeyra Therapeutics in the third quarter valued at approximately $1,195,000. Finally, EAM Investors LLC acquired a new position in Aldeyra Therapeutics during the third quarter worth $4,307,000. Hedge funds and other institutional investors own 69.10% of the company’s stock.
Aldeyra Therapeutics Company Profile
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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