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

HC Wainwright restated their buy rating on shares of Aldeyra Therapeutics (NASDAQ:ALDX) in a report published on Monday,Benzinga reports. HC Wainwright currently has a $10.00 target price on the biotechnology company’s stock.

Aldeyra Therapeutics Trading Down 0.3 %

Shares of ALDX opened at $6.15 on Monday. The business’s 50-day moving average price is $5.53 and its 200 day moving average price is $5.40. Aldeyra Therapeutics has a 1-year low of $2.71 and a 1-year high of $6.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.80 and a quick ratio of 6.80.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.30). On average, analysts expect that Aldeyra Therapeutics will post -0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aldeyra Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. US Bancorp DE purchased a new position in Aldeyra Therapeutics during the 3rd quarter valued at about $30,000. Hsbc Holdings PLC purchased a new position in Aldeyra Therapeutics during the 4th quarter valued at about $52,000. Balyasny Asset Management L.P. purchased a new position in Aldeyra Therapeutics during the 4th quarter valued at about $56,000. Paloma Partners Management Co purchased a new position in Aldeyra Therapeutics during the 3rd quarter valued at about $62,000. Finally, Catalyst Funds Management Pty Ltd grew its stake in Aldeyra Therapeutics by 2,083.3% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 13,100 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 12,500 shares in the last quarter. Hedge funds and other institutional investors own 59.71% of the company’s stock.

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.