Aldeyra Therapeutics (NASDAQ:ALDX) Price Target Cut to $9.00 by Analysts at BTIG Research

Aldeyra Therapeutics (NASDAQ:ALDX) had its price target lowered by research analysts at BTIG Research from $11.00 to $9.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. BTIG Research’s price target would suggest a potential upside of 409.92% from the company’s current price.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Aldeyra Therapeutics in a report on Friday.

Aldeyra Therapeutics Stock Performance

NASDAQ:ALDX traded down $0.13 during trading hours on Monday, hitting $1.77. 2,292,726 shares of the company traded hands, compared to its average volume of 644,944. The firm’s 50-day simple moving average is $6.00 and its 200-day simple moving average is $5.44. 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 has a one year low of $1.14 and a one year high of $7.20.

Aldeyra Therapeutics (NASDAQ:ALDX) last released 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). As a group, equities research analysts predict that Aldeyra Therapeutics will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in Aldeyra Therapeutics in the fourth quarter valued at approximately $3,628,000. State Street Corp raised its stake in shares of Aldeyra Therapeutics by 1.7% in the third quarter. State Street Corp now owns 973,908 shares of the biotechnology company’s stock valued at $5,249,000 after buying an additional 16,188 shares during the period. Barclays PLC lifted its position in shares of Aldeyra Therapeutics by 280.1% during the 3rd quarter. Barclays PLC now owns 65,561 shares of the biotechnology company’s stock valued at $353,000 after buying an additional 48,313 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Aldeyra Therapeutics by 14.4% during the 4th quarter. SG Americas Securities LLC now owns 22,365 shares of the biotechnology company’s stock worth $112,000 after acquiring an additional 2,822 shares during the period. Finally, AlphaCentric Advisors LLC purchased a new stake in Aldeyra Therapeutics in the 4th quarter worth about $234,000. 59.71% of the stock is owned by 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.