Aldeyra Therapeutics Inc (ALDX) Receives Consensus Recommendation of “Buy” from Brokerages

Aldeyra Therapeutics Inc (NASDAQ:ALDX) has been given an average recommendation of “Buy” by the eight research firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $19.60.

ALDX has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Aldeyra Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Seaport Global Securities initiated coverage on shares of Aldeyra Therapeutics in a research note on Friday, January 26th. They issued a “buy” rating and a $13.00 target price for the company. ValuEngine upgraded shares of Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Canaccord Genuity reiterated a “buy” rating and issued a $27.00 target price on shares of Aldeyra Therapeutics in a research note on Tuesday, March 13th. Finally, Cantor Fitzgerald set a $23.00 target price on shares of Aldeyra Therapeutics and gave the company a “buy” rating in a research note on Thursday.

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Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in shares of Aldeyra Therapeutics in the third quarter valued at approximately $134,000. Woodstock Corp raised its position in Aldeyra Therapeutics by 20.4% in the 4th quarter. Woodstock Corp now owns 58,243 shares of the biotechnology company’s stock worth $396,000 after purchasing an additional 9,850 shares during the last quarter. Geode Capital Management LLC raised its position in Aldeyra Therapeutics by 34.6% in the 4th quarter. Geode Capital Management LLC now owns 102,263 shares of the biotechnology company’s stock worth $695,000 after purchasing an additional 26,269 shares during the last quarter. Mangrove Partners bought a new position in Aldeyra Therapeutics in the 4th quarter worth approximately $1,118,000. Finally, Vanguard Group Inc. raised its position in Aldeyra Therapeutics by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 304,633 shares of the biotechnology company’s stock worth $1,431,000 after purchasing an additional 9,407 shares during the last quarter. Institutional investors own 51.17% of the company’s stock.

ALDX traded down $0.65 during midday trading on Friday, reaching $7.50. 201,624 shares of the company’s stock were exchanged, compared to its average volume of 83,713. The stock has a market cap of $143.38, a price-to-earnings ratio of -5.36 and a beta of 0.46. The company has a quick ratio of 20.35, a current ratio of 20.35 and a debt-to-equity ratio of 0.02. Aldeyra Therapeutics has a one year low of $3.80 and a one year high of $11.90.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings results on Thursday, March 29th. The biotechnology company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). equities research analysts expect that Aldeyra Therapeutics will post -1.43 EPS for the current fiscal year.

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About Aldeyra Therapeutics

Aldeyra Therapeutics, Inc, formerly Aldexa Therapeutics, Inc, is a biotechnology company. The Company’s principal activities include raising capital and research and development activities. The Company’s segment is the identification and development of a treatment for diseases related to high levels of aldehydes.

Analyst Recommendations for Aldeyra Therapeutics (NASDAQ:ALDX)

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