Aldeyra Therapeutics (NASDAQ:ALDX) Stock Rating Reaffirmed as Neutral by HC Wainwright

Key Points

• HC Wainwright reaffirmed a Neutral rating on Aldeyra Therapeutics, with a $2.00 price target implying approximately 51.5% upside from the cited $1.32 share price.
• Analyst sentiment remains mixed: BTIG Research maintained a Buy rating, while Wall Street Zen and Weiss Ratings issued Sell-related downgrades. MarketBeat reports an overall Hold consensus and a $5.50 average price target.
• Aldeyra plans to pursue a formal FDA dispute-resolution request after receiving a third complete response letter for reproxalap, highlighting continued regulatory uncertainty around its lead dry-eye treatment candidate.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities researchers at HC Wainwright in a report issued on Wednesday, Benzinga reports. They presently have a $2.00 price objective on the biotechnology company's stock. HC Wainwright's price target would indicate a potential upside of 51.52% from the stock's current price.

Several other research analysts also recently commented on the company. Wall Street Zen downgraded Aldeyra Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. BTIG Research restated a "buy" rating on shares of Aldeyra Therapeutics in a research note on Tuesday. Finally, Weiss Ratings cut shares of Aldeyra Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, September 14th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Aldeyra Therapeutics has an average rating of "Hold" and a consensus price target of $5.50.

Aldeyra Therapeutics Price Performance

Shares of ALDX stock opened at $1.32 on Wednesday. The company has a market cap of $79.64 million, a P/E ratio of -3.38 and a beta of 1.20. Aldeyra Therapeutics has a one year low of $1.07 and a one year high of $5.93. The firm has a 50-day moving average of $1.48 and a 200-day moving average of $1.73.

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

Hedge Funds Weigh In On Aldeyra Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. 683 Capital Management LLC grew its stake in shares of Aldeyra Therapeutics by 86.6% in the fourth quarter. 683 Capital Management LLC now owns 1,530,000 shares of the biotechnology company's stock worth $7,925,000 after purchasing an additional 710,000 shares during the last quarter. BlackRock Inc. bought a new position in Aldeyra Therapeutics during the 2nd quarter valued at approximately $2,678,000. Kennedy Capital Management LLC lifted its holdings in Aldeyra Therapeutics by 12.9% in the 4th quarter. Kennedy Capital Management LLC now owns 1,255,838 shares of the biotechnology company's stock worth $6,505,000 after buying an additional 143,625 shares during the period. Renaissance Technologies LLC grew its position in shares of Aldeyra Therapeutics by 146.6% in the 1st quarter. Renaissance Technologies LLC now owns 863,187 shares of the biotechnology company's stock worth $1,459,000 after buying an additional 513,187 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Aldeyra Therapeutics by 1.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 624,170 shares of the biotechnology company's stock worth $1,055,000 after buying an additional 11,912 shares during the last quarter. 59.71% of the stock is owned by institutional investors.

More Aldeyra Therapeutics News

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

• Positive Sentiment: Aldeyra intends to submit a formal dispute resolution request regarding reproxalap after receiving the FDA’s third complete response letter. Investors appear encouraged that management is pursuing another regulatory avenue rather than abandoning the program. Aldeyra Announces Formal Dispute Resolution Request
• Positive Sentiment: BTIG Research reaffirmed its “buy” rating, while HC Wainwright maintained a “neutral” rating and set a $2.00 price target, implying substantial upside from the recently cited share price. These ratings may support sentiment, though the analyst views are mixed. Benzinga Analyst Rating Reports
• Neutral Sentiment: Aldeyra held a regulatory update focused on reproxalap and the FDA review process, providing investors with additional details about the company’s dispute resolution strategy. Aldeyra Reproxalap Regulatory Update Transcript
• Negative Sentiment: The FDA’s third complete response letter means reproxalap has again not been approved for dry eye disease. The dispute process could delay commercialization, require further evidence, and may ultimately fail, leaving Aldeyra dependent on a development program with significant regulatory risk. Aldeyra Plans FDA Dispute Request

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.