Aldeyra Therapeutics, Inc. (NASDAQ:ALDX)‘s stock had its “outperform” rating reaffirmed by Cowen and Company in a report issued on Thursday, The Fly reports. They currently have a $14.00 price objective on the biotechnology company’s stock, up from their prior price objective of $9.00. Cowen and Company’s target price would suggest a potential upside of 115.38% from the company’s current price.

A number of other research firms have also recently weighed in on ALDX. HC Wainwright set a $18.00 target price on shares of Aldeyra Therapeutics and gave the company a “buy” rating in a research note on Thursday, June 15th. ValuEngine cut shares of Aldeyra Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, September 6th. Canaccord Genuity restated a “buy” rating and set a $27.00 price target (up from $12.00) on shares of Aldeyra Therapeutics in a research note on Wednesday. Zacks Investment Research cut shares of Aldeyra Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Finally, Stifel Nicolaus restated a “buy” rating and set a $16.00 price target on shares of Aldeyra Therapeutics in a research note on Wednesday, May 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $15.95.

Aldeyra Therapeutics (NASDAQ ALDX) opened at 6.35 on Thursday. Aldeyra Therapeutics has a one year low of $3.80 and a one year high of $8.19. The stock’s 50 day moving average is $4.40 and its 200 day moving average is $4.66. The company’s market capitalization is $39.66 million.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its earnings results on Tuesday, August 8th. The biotechnology company reported ($0.35) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.37) by $0.02. On average, analysts anticipate that Aldeyra Therapeutics will post ($1.63) earnings per share for the current fiscal year.

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In other Aldeyra Therapeutics news, major shareholder Life Sciences Maste Perceptive purchased 296,007 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The shares were bought at an average cost of $4.60 per share, for a total transaction of $1,361,632.20. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 28.40% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Virtu KCG Holdings LLC purchased a new stake in shares of Aldeyra Therapeutics during the 2nd quarter valued at approximately $104,000. Renaissance Technologies LLC purchased a new stake in shares of Aldeyra Therapeutics during the 1st quarter valued at approximately $132,000. Hikari Power Ltd lifted its stake in shares of Aldeyra Therapeutics by 186.4% during the 2nd quarter. Hikari Power Ltd now owns 107,858 shares of the biotechnology company’s stock valued at $507,000 after buying an additional 70,196 shares in the last quarter. Sabby Management LLC purchased a new stake in shares of Aldeyra Therapeutics during the 1st quarter valued at approximately $898,000. Finally, Vanguard Group Inc. lifted its stake in shares of Aldeyra Therapeutics by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 304,633 shares of the biotechnology company’s stock valued at $1,431,000 after buying an additional 9,407 shares in the last quarter. Institutional investors own 49.09% of the company’s stock.

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.

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