Aldeyra Therapeutics' (ALDX) Buy Rating Reaffirmed at BTIG Research

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at BTIG Research in a research note issued to investors on Tuesday, Benzinga reports.

A number of other equities research analysts have also recently issued reports on ALDX. Wall Street Zen cut Aldeyra Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Weiss Ratings cut Aldeyra Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, September 14th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.50.

Aldeyra Therapeutics Trading Up 4.9%

Aldeyra Therapeutics stock traded up $0.06 during trading hours on Tuesday, reaching $1.29. 1,210,873 shares of the company were exchanged, compared to its average volume of 1,756,372. The firm has a market cap of $77.83 million, a price-to-earnings ratio of -3.31 and a beta of 1.20. The stock has a 50-day moving average of $1.47 and a 200 day moving average of $1.68. Aldeyra Therapeutics has a 12 month low of $1.07 and a 12 month high of $5.93.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last announced its earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.09). As a group, research analysts forecast that Aldeyra Therapeutics will post -0.39 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALDX. Squarepoint Ops LLC acquired a new position in shares of Aldeyra Therapeutics in the second quarter valued at $200,000. Two Sigma Securities LLC acquired a new position in shares of Aldeyra Therapeutics in the second quarter valued at $70,000. Palo Alto Investors LP acquired a new position in shares of Aldeyra Therapeutics in the second quarter valued at $331,660. Bank of America Corp DE acquired a new position in shares of Aldeyra Therapeutics in the second quarter valued at $72,000. Finally, Man Group plc acquired a new position in shares of Aldeyra Therapeutics in the second quarter valued at $325,000. 59.71% of the stock is currently owned by institutional investors and hedge funds.

Aldeyra Therapeutics Company Profile

Aldeyra Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for immune-mediated diseases. The company's research centers on reactive aldehyde species, or RASP, which are inflammatory mediators that can contribute to tissue damage and disease progression.

Aldeyra's lead investigational product is reproxalap, a small-molecule RASP inhibitor being developed for ocular conditions, including dry eye disease and allergic conjunctivitis. The company has also developed ADX-2191, an investigational intravitreal formulation of methotrexate intended for the treatment of certain rare retinal diseases, including proliferative vitreoretinopathy and retinitis pigmentosa.

Founded in 2008 and headquartered in Lexington, Massachusetts, Aldeyra conducts its research and clinical development activities primarily in the United States.