HC Wainwright Reaffirms Buy Rating for Aldeyra Therapeutics (NASDAQ:ALDX)

Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $10.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective points to a potential upside of 429.10% from the stock’s current price.

Aldeyra Therapeutics Stock Up 33.1 %

Shares of ALDX opened at $1.89 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.80 and a quick ratio of 6.80. The company’s fifty day moving average price is $6.00 and its 200-day moving average price is $5.45. Aldeyra Therapeutics has a 1-year low of $1.14 and a 1-year high of $7.20.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.30). Sell-side analysts anticipate that Aldeyra Therapeutics will post -0.92 EPS for the current year.

Institutional Trading of Aldeyra Therapeutics

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its holdings in shares of Aldeyra Therapeutics by 14.4% during the fourth quarter. SG Americas Securities LLC now owns 22,365 shares of the biotechnology company’s stock worth $112,000 after purchasing an additional 2,822 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Aldeyra Therapeutics by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,119,555 shares of the biotechnology company’s stock valued at $5,588,000 after buying an additional 4,927 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Aldeyra Therapeutics by 1.9% during the 4th quarter. Wells Fargo & Company MN now owns 393,654 shares of the biotechnology company’s stock valued at $1,964,000 after buying an additional 7,348 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Aldeyra Therapeutics by 89.3% in the 3rd quarter. Captrust Financial Advisors now owns 19,261 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 9,087 shares during the period. Finally, Intech Investment Management LLC raised its position in Aldeyra Therapeutics by 62.7% during the fourth quarter. Intech Investment Management LLC now owns 23,806 shares of the biotechnology company’s stock valued at $119,000 after acquiring an additional 9,178 shares in the last quarter. 59.71% of the stock is owned by hedge funds and other institutional investors.

Aldeyra Therapeutics Company Profile

Aldeyra Therapeutics is a clinical-stage biotechnology company focused on the development of novel therapies with the potential to improve the lives of patients with immune-mediated diseases. Two of the company’s lead compounds, reproxalap and ADX-629, target reactive aldehyde species (RASP), which are elevated in ocular and systemic inflammatory disease, leading to elevated levels of cytokine release via activation of a broad array of inflammatory factors, including NF-κB, inflammasomes, and Scavenger Receptor A.