Aldeyra Therapeutics (ALDX) Stock Rating Reaffirmed by Cantor Fitzgerald
Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “buy” rating restated by Cantor Fitzgerald in a report released on Tuesday, Marketbeat.com reports. They presently have a $35.00 target price on the biotechnology company’s stock, up from their previous target price of $30.00. Cantor Fitzgerald’s price target indicates a potential upside of 273.53% from the company’s previous close.
The analysts wrote, “: We reiterate our OW rating and raise the 12-month price target to $35/share from $30 following the announcement of the successful pivotal ALLEVIATE trial data in allergic conjunctivitis (AC).””
Several other equities research analysts have also recently commented on ALDX. Citigroup initiated coverage on Aldeyra Therapeutics in a research note on Tuesday, December 4th. They set a “buy” rating and a $23.00 price target for the company. Zacks Investment Research cut Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, December 6th. BidaskClub upgraded Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Finally, ValuEngine cut Aldeyra Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $34.40.
Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings data on Friday, March 8th. The biotechnology company reported ($0.39) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.04. Sell-side analysts predict that Aldeyra Therapeutics will post -1.79 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in ALDX. Bank of New York Mellon Corp raised its position in Aldeyra Therapeutics by 160.9% in the third quarter. Bank of New York Mellon Corp now owns 130,015 shares of the biotechnology company’s stock worth $1,795,000 after acquiring an additional 80,173 shares in the last quarter. Prosight Management LP purchased a new position in Aldeyra Therapeutics in the fourth quarter worth $3,357,000. Stonepine Capital Management LLC purchased a new position in Aldeyra Therapeutics in the third quarter worth $2,001,000. Vanguard Group Inc. raised its position in Aldeyra Therapeutics by 25.7% in the third quarter. Vanguard Group Inc. now owns 947,876 shares of the biotechnology company’s stock worth $13,081,000 after acquiring an additional 193,707 shares in the last quarter. Finally, FMR LLC raised its position in Aldeyra Therapeutics by 59.1% in the third quarter. FMR LLC now owns 2,564,333 shares of the biotechnology company’s stock worth $35,388,000 after acquiring an additional 953,022 shares in the last quarter. Institutional investors and hedge funds own 65.39% of the company’s stock.
About Aldeyra Therapeutics
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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