ValuEngine cut shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a buy rating to a hold rating in a research note released on Friday.

Several other research analysts also recently issued reports on the stock. Canaccord Genuity reiterated a buy rating and set a $27.00 price target on shares of Aldeyra Therapeutics in a research report on Friday, August 10th. Zacks Investment Research downgraded shares of Aldeyra Therapeutics from a hold rating to a sell rating in a research report on Tuesday, August 14th. Cantor Fitzgerald set a $23.00 price target on shares of Aldeyra Therapeutics and gave the stock a buy rating in a research report on Monday, August 27th. Finally, Janney Montgomery Scott started coverage on shares of Aldeyra Therapeutics in a research report on Thursday, September 13th. They set a buy rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Aldeyra Therapeutics presently has a consensus rating of Hold and a consensus price target of $17.63.

Shares of NASDAQ ALDX opened at $7.65 on Friday. The stock has a market cap of $167.80 million, a P/E ratio of -5.46 and a beta of 0.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.11 and a current ratio of 8.11. Aldeyra Therapeutics has a 12-month low of $5.55 and a 12-month high of $9.55.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its quarterly earnings results on Thursday, August 9th. The biotechnology company reported ($0.46) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.03). sell-side analysts forecast that Aldeyra Therapeutics will post -1.8 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in ALDX. BlackRock Inc. lifted its position in Aldeyra Therapeutics by 1,881.2% during the 2nd quarter. BlackRock Inc. now owns 780,744 shares of the biotechnology company’s stock valued at $6,207,000 after purchasing an additional 741,337 shares during the period. Russell Investments Group Ltd. acquired a new position in Aldeyra Therapeutics during the 2nd quarter valued at about $1,335,000. Mesirow Financial Investment Management Inc. acquired a new position in Aldeyra Therapeutics during the 2nd quarter valued at about $327,000. Essex Investment Management Co. LLC acquired a new position in Aldeyra Therapeutics during the 2nd quarter valued at about $312,000. Finally, Millennium Management LLC lifted its position in Aldeyra Therapeutics by 5.2% during the 1st quarter. Millennium Management LLC now owns 753,143 shares of the biotechnology company’s stock valued at $5,649,000 after purchasing an additional 37,464 shares during the period. Institutional investors own 57.83% of the company’s stock.

About Aldeyra Therapeutics

Aldeyra Therapeutics, Inc, a biotechnology company, focuses on the development of products for inflammation, inborn errors of metabolism, and other diseases in the United States and internationally. It is developing ADX-102, a small molecule designed to trap and allow for the degradation of aldehydes, as well as ADX-103 and ADX-104 novel candidates for the treatment of noninfectious anterior uveitis, allergic conjunctivitis, dry eye syndrome, sjögren-larsson syndrome, and succinic semi-aldehyde dehydrogenase deficiency.

Read More: What strategies should day traders use to execute a trade?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Aldeyra Therapeutics (NASDAQ:ALDX)

Receive News & Ratings for Aldeyra Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aldeyra Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.