Cantor Fitzgerald Initiates Coverage on Aldeyra Therapeutics, Inc. (ALDX)
Analysts at Cantor Fitzgerald started coverage on shares of Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) in a report issued on Tuesday, The Fly reports. The brokerage set an “overweight” rating on the biotechnology company’s stock.
ALDX has been the topic of a number of other research reports. Zacks Investment Research raised Aldeyra Therapeutics from a “hold” rating to a “buy” rating and set a $4.75 price objective on the stock in a research note on Thursday, August 10th. HC Wainwright set a $18.00 price target on Aldeyra Therapeutics and gave the company a “buy” rating in a research note on Wednesday, August 9th. ValuEngine raised Aldeyra Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 12th. Canaccord Genuity reaffirmed a “buy” rating and set a $27.00 price target (up previously from $12.00) on shares of Aldeyra Therapeutics in a research note on Wednesday, September 13th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $14.00 price target (up previously from $9.00) on shares of Aldeyra Therapeutics in a research note on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $15.95.
Shares of Aldeyra Therapeutics (ALDX) traded down 2.36% during midday trading on Tuesday, hitting $6.20. 322,487 shares of the company were exchanged. The firm’s market cap is $38.72 million. The company’s 50 day moving average price is $6.98 and its 200 day moving average price is $5.17. Aldeyra Therapeutics has a one year low of $3.80 and a one year high of $11.90.
Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.02. Equities analysts expect that Aldeyra Therapeutics will post ($1.51) EPS for the current year.
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In other news, major shareholder Life Sciences Maste Perceptive purchased 200,000 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were acquired at an average price of $7.25 per share, with a total value of $1,450,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 28.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALDX. Virtu KCG Holdings LLC bought a new stake in Aldeyra Therapeutics in the second quarter valued at about $104,000. Renaissance Technologies LLC bought a new stake in Aldeyra Therapeutics in the first quarter valued at about $132,000. Hikari Power Ltd increased its holdings in Aldeyra Therapeutics by 186.4% in the second quarter. Hikari Power Ltd now owns 107,858 shares of the biotechnology company’s stock valued at $507,000 after purchasing an additional 70,196 shares during the last quarter. Vanguard Group Inc. increased its holdings in Aldeyra Therapeutics by 3.2% in the second quarter. Vanguard Group Inc. now owns 304,633 shares of the biotechnology company’s stock valued at $1,431,000 after purchasing an additional 9,407 shares during the last quarter. Finally, Sphera Funds Management LTD. increased its holdings in Aldeyra Therapeutics by 31.0% in the second quarter. Sphera Funds Management LTD. now owns 875,931 shares of the biotechnology company’s stock valued at $4,117,000 after purchasing an additional 207,431 shares during the last quarter. Institutional investors and hedge funds own 40.32% 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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