Aldeyra Therapeutics (NASDAQ:ALDX) Receives Buy Rating from HC Wainwright

Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report released on Monday,Benzinga reports. They presently have a $10.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 95.69% from the company’s previous close.

Aldeyra Therapeutics Stock Down 19.4 %

ALDX stock opened at $5.11 on Monday. Aldeyra Therapeutics has a twelve month low of $2.71 and a twelve month high of $6.92. The business has a 50 day moving average price of $5.48 and a two-hundred day moving average price of $5.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.80 and a current ratio of 6.80.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.30). On average, sell-side analysts predict that Aldeyra Therapeutics will post -0.92 EPS for the current year.

Institutional Trading of Aldeyra Therapeutics

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in shares of Aldeyra Therapeutics by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,119,555 shares of the biotechnology company’s stock worth $5,588,000 after purchasing an additional 4,927 shares during the period. State Street Corp grew its holdings in Aldeyra Therapeutics by 1.7% in the 3rd quarter. State Street Corp now owns 973,908 shares of the biotechnology company’s stock valued at $5,249,000 after buying an additional 16,188 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Aldeyra Therapeutics by 21.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 735,763 shares of the biotechnology company’s stock worth $3,672,000 after buying an additional 131,722 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Aldeyra Therapeutics during the fourth quarter worth $3,628,000. Finally, ADAR1 Capital Management LLC boosted its position in shares of Aldeyra Therapeutics by 114.4% in the fourth quarter. ADAR1 Capital Management LLC now owns 647,960 shares of the biotechnology company’s stock valued at $3,233,000 after acquiring an additional 345,748 shares during the period. Institutional investors and hedge funds own 59.71% of the company’s stock.

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.