Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “Aldeyra Therapeutics, Inc. is a biotechnology company. The company’s products target immune-mediated, inflammatory, orphan, and other diseases. It is developing NS2, a compound that binds and traps free aldehydes. Aldeyra Therapeutics, Inc. is based in Burlington, Massachusetts. “

Other analysts have also issued research reports about the company. HC Wainwright set a $18.00 target price on Aldeyra Therapeutics and gave the company a “buy” rating in a report on Wednesday, August 9th. Canaccord Genuity set a $12.00 target price on Aldeyra Therapeutics and gave the company a “buy” rating in a report on Wednesday, June 14th. Cowen and Company reissued an “outperform” rating and issued a $14.00 target price (up previously from $9.00) on shares of Aldeyra Therapeutics in a report on Thursday, September 14th. Finally, ValuEngine lowered Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Aldeyra Therapeutics has an average rating of “Hold” and an average target price of $15.95.

Shares of Aldeyra Therapeutics (NASDAQ ALDX) traded down 0.65% during midday trading on Tuesday, hitting $7.70. 526,216 shares of the stock were exchanged. Aldeyra Therapeutics has a one year low of $3.80 and a one year high of $11.90. The firm has a 50 day moving average of $6.18 and a 200-day moving average of $5.03. The company’s market cap is $48.09 million.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.35) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.02. Equities analysts expect that Aldeyra Therapeutics will post ($1.63) EPS for the current year.

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In other Aldeyra Therapeutics news, major shareholder Life Sciences Maste Perceptive bought 200,000 shares of Aldeyra Therapeutics stock in a transaction that occurred on Tuesday, September 19th. The shares were purchased at an average cost of $7.25 per share, for a total transaction of $1,450,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 28.40% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Virtu KCG Holdings LLC purchased a new position in shares of Aldeyra Therapeutics in the 2nd quarter worth about $104,000. Renaissance Technologies LLC purchased a new position in shares of Aldeyra Therapeutics in the 1st quarter worth about $132,000. Hikari Power Ltd raised its holdings in shares of Aldeyra Therapeutics by 186.4% in the 2nd quarter. Hikari Power Ltd now owns 107,858 shares of the biotechnology company’s stock worth $507,000 after purchasing an additional 70,196 shares during the period. Sabby Management LLC purchased a new position in shares of Aldeyra Therapeutics in the 1st quarter worth about $898,000. Finally, Vanguard Group Inc. raised its holdings in shares of 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 period. Institutional investors own 40.06% of the company’s stock.

Aldeyra Therapeutics Company Profile

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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