Aldeyra Therapeutics (NASDAQ:ALDX) Given Buy Rating at BTIG Research

BTIG Research reiterated their buy rating on shares of Aldeyra Therapeutics (NASDAQ:ALDX) in a report released on Monday morning,Benzinga reports. They currently have a $9.00 target price on the biotechnology company’s stock.

ALDX has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aldeyra Therapeutics in a research report on Wednesday, October 8th. Zacks Research upgraded Aldeyra Therapeutics to a “hold” rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Aldeyra Therapeutics has a consensus rating of “Hold” and an average price target of $9.50.

Aldeyra Therapeutics Stock Performance

NASDAQ ALDX opened at $5.13 on Monday. The stock has a market cap of $308.64 million, a PE ratio of -6.04 and a beta of 0.79. The firm has a 50-day moving average of $5.28 and a 200-day moving average of $4.37. Aldeyra Therapeutics has a 52-week low of $1.14 and a 52-week high of $7.20.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.04. As a group, analysts predict that Aldeyra Therapeutics will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Aldeyra Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC raised its stake in Aldeyra Therapeutics by 275.4% in the second quarter. AQR Capital Management LLC now owns 1,473,812 shares of the biotechnology company’s stock valued at $5,645,000 after purchasing an additional 1,081,257 shares in the last quarter. Kingdon Capital Management L.L.C. bought a new position in Aldeyra Therapeutics in the 1st quarter valued at about $4,479,000. 683 Capital Management LLC increased its holdings in Aldeyra Therapeutics by 126.9% in the 2nd quarter. 683 Capital Management LLC now owns 1,080,000 shares of the biotechnology company’s stock valued at $4,136,000 after buying an additional 604,000 shares during the period. Invesco Ltd. raised its position in shares of Aldeyra Therapeutics by 1,575.7% in the 1st quarter. Invesco Ltd. now owns 501,137 shares of the biotechnology company’s stock valued at $2,882,000 after buying an additional 471,231 shares in the last quarter. Finally, PFG Investments LLC lifted its holdings in shares of Aldeyra Therapeutics by 397.2% during the 2nd quarter. PFG Investments LLC now owns 257,300 shares of the biotechnology company’s stock worth $985,000 after acquiring an additional 205,550 shares during the period. 59.71% of the stock is currently owned by institutional investors and hedge funds.

Aldeyra Therapeutics Company Profile

Aldeyra Therapeutics is a clinical-stage biotechnology company focused on the development of novel therapies with the potential to improve the lives of patients with immune-mediated diseases. Two of the company’s lead compounds, reproxalap and ADX-629, target reactive aldehyde species (RASP), which are elevated in ocular and systemic inflammatory disease, leading to elevated levels of cytokine release via activation of a broad array of inflammatory factors, including NF-κB, inflammasomes, and Scavenger Receptor A.