Aldeyra Therapeutics (NASDAQ:ALDX) Rating Increased to Hold at StockNews.com

Aldeyra Therapeutics (NASDAQ:ALDX) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

ALDX has been the subject of several other research reports. Oppenheimer reissued an “outperform” rating and set a $14.00 target price on shares of Aldeyra Therapeutics in a research note on Wednesday, August 9th. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Aldeyra Therapeutics in a research report on Friday, June 30th.

Aldeyra Therapeutics Stock Performance

Shares of NASDAQ:ALDX opened at $7.23 on Friday. Aldeyra Therapeutics has a 1 year low of $4.95 and a 1 year high of $11.97. The stock has a market capitalization of $423.68 million, a price-to-earnings ratio of -8.12 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a current ratio of 9.96 and a quick ratio of 9.96. The company’s 50 day simple moving average is $7.71 and its 200 day simple moving average is $8.71.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.16. As a group, research analysts predict that Aldeyra Therapeutics will post -1.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Aldeyra Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates increased its holdings in Aldeyra Therapeutics by 4.6% during the 1st quarter. Raymond James & Associates now owns 26,842 shares of the biotechnology company’s stock worth $267,000 after purchasing an additional 1,173 shares in the last quarter. ExodusPoint Capital Management LP raised its position in Aldeyra Therapeutics by 11.7% in the 2nd quarter. ExodusPoint Capital Management LP now owns 22,495 shares of the biotechnology company’s stock valued at $90,000 after buying an additional 2,364 shares during the last quarter. Cetera Advisor Networks LLC lifted its stake in Aldeyra Therapeutics by 18.3% during the 2nd quarter. Cetera Advisor Networks LLC now owns 17,049 shares of the biotechnology company’s stock valued at $143,000 after acquiring an additional 2,641 shares in the last quarter. Boothbay Fund Management LLC boosted its holdings in Aldeyra Therapeutics by 22.2% during the 1st quarter. Boothbay Fund Management LLC now owns 16,521 shares of the biotechnology company’s stock worth $164,000 after acquiring an additional 2,996 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Aldeyra Therapeutics by 2.3% in the 1st quarter. Ameriprise Financial Inc. now owns 143,432 shares of the biotechnology company’s stock worth $1,424,000 after acquiring an additional 3,200 shares in the last quarter. 66.62% of the stock is currently owned by institutional investors.

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.