Aldeyra Therapeutics (NASDAQ:ALDX) Upgraded to “Hold” at Wall Street Zen

Aldeyra Therapeutics (NASDAQ:ALDXGet Free Report) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other analysts also recently commented on the stock. BTIG Research reiterated a “buy” rating on shares of Aldeyra Therapeutics in a report on Tuesday, March 17th. HC Wainwright reiterated a “neutral” rating and issued a $2.00 target price (down from $10.00) on shares of Aldeyra Therapeutics in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.50.

Check Out Our Latest Stock Report on Aldeyra Therapeutics

Aldeyra Therapeutics Stock Performance

ALDX opened at $1.80 on Friday. The company’s fifty day moving average price is $3.48 and its two-hundred day moving average price is $4.51. Aldeyra Therapeutics has a 1-year low of $1.07 and a 1-year high of $6.18. The company has a market cap of $108.32 million, a price-to-earnings ratio of -3.16 and a beta of 1.34.

Aldeyra Therapeutics (NASDAQ:ALDXGet Free Report) last released its quarterly earnings data on Friday, February 27th. The biotechnology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.03. As a group, equities analysts forecast that Aldeyra Therapeutics will post -0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard Douglas purchased 70,000 shares of Aldeyra Therapeutics stock in a transaction that occurred on Thursday, March 19th. The stock was bought at an average price of $1.40 per share, for a total transaction of $98,000.00. Following the completion of the transaction, the director owned 195,000 shares in the company, valued at $273,000. This represents a 56.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 9.60% of the company’s stock.

Hedge Funds Weigh In On Aldeyra Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Krilogy Financial LLC bought a new position in Aldeyra Therapeutics during the first quarter worth about $26,000. Caption Management LLC boosted its position in Aldeyra Therapeutics by 110.6% during the second quarter. Caption Management LLC now owns 12,664 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 132,358 shares during the period. Inspirion Wealth Advisors LLC bought a new position in Aldeyra Therapeutics during the fourth quarter worth about $52,000. Global Retirement Partners LLC bought a new position in Aldeyra Therapeutics during the fourth quarter worth about $52,000. Finally, BNP Paribas Financial Markets boosted its position in Aldeyra Therapeutics by 36.9% during the third quarter. BNP Paribas Financial Markets now owns 10,610 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 2,859 shares during the period. Institutional investors own 59.71% of the company’s stock.

More Aldeyra Therapeutics News

Here are the key news stories impacting Aldeyra Therapeutics this week:

About Aldeyra Therapeutics

(Get Free Report)

Aldeyra Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel small molecule therapies for immune-mediated diseases. The company’s research efforts center on targeted alkenals, a class of reactive aldehyde species that play a key role in inflammatory pathways. By selectively modulating these pathways, Aldeyra aims to address both ocular and systemic indications with high unmet medical need.

The company’s lead product candidate, reproxalap, is being investigated in several ophthalmic disorders, including dry eye disease, allergic conjunctivitis and non-infectious anterior uveitis.

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