Aldeyra Therapeutics’ (ALDX) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Aldeyra Therapeutics (NASDAQ:ALDX) in a research note released on Friday morning,Benzinga reports. They currently have a $10.00 target price on the biotechnology company’s stock.

Aldeyra Therapeutics Stock Up 33.1 %

Shares of ALDX stock opened at $1.89 on Friday. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.18. The stock has a fifty day moving average price of $6.00 and a 200 day moving average price of $5.44. Aldeyra Therapeutics has a one year low of $1.14 and a one year high of $7.20.

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). Research analysts anticipate that Aldeyra Therapeutics will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Aldeyra Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in shares of Aldeyra Therapeutics during the fourth quarter valued at $3,628,000. State Street Corp grew its stake in shares of Aldeyra Therapeutics by 1.7% during the third quarter. State Street Corp now owns 973,908 shares of the biotechnology company’s stock worth $5,249,000 after purchasing an additional 16,188 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Aldeyra Therapeutics by 163.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 476,949 shares of the biotechnology company’s stock valued at $2,571,000 after purchasing an additional 295,864 shares during the last quarter. Barclays PLC lifted its stake in Aldeyra Therapeutics by 280.1% in the third quarter. Barclays PLC now owns 65,561 shares of the biotechnology company’s stock valued at $353,000 after buying an additional 48,313 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Aldeyra Therapeutics by 14.4% in the fourth quarter. SG Americas Securities LLC now owns 22,365 shares of the biotechnology company’s stock valued at $112,000 after buying an additional 2,822 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.