Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity in a note issued to investors on Tuesday. They presently have a $27.00 price objective on the biotechnology company’s stock. Canaccord Genuity’s price target would suggest a potential upside of 205.08% from the company’s previous close.
The analysts wrote, “We are updating our ALDX model, but our price target remains unchanged at $27. We also maintain current US peak sales estimates.””
Several other equities analysts have also commented on ALDX. Seaport Global Securities reissued a “buy” rating on shares of Aldeyra Therapeutics in a report on Thursday, March 1st. ValuEngine raised Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research raised Aldeyra Therapeutics from a “hold” rating to a “buy” rating and set a $7.50 target price on the stock in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $16.79.
A number of large investors have recently bought and sold shares of ALDX. 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 buying an additional 9,407 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Aldeyra Therapeutics during the third quarter worth about $134,000. Sphera Funds Management LTD. grew its holdings in shares of Aldeyra Therapeutics by 19.2% during the third quarter. Sphera Funds Management LTD. now owns 1,044,131 shares of the biotechnology company’s stock worth $7,518,000 after purchasing an additional 168,200 shares during the last quarter. Perceptive Advisors LLC grew its holdings in shares of Aldeyra Therapeutics by 6.9% during the third quarter. Perceptive Advisors LLC now owns 3,085,458 shares of the biotechnology company’s stock worth $22,215,000 after purchasing an additional 200,000 shares during the last quarter. Finally, 683 Capital Management LLC grew its holdings in shares of Aldeyra Therapeutics by 59.1% during the third quarter. 683 Capital Management LLC now owns 835,514 shares of the biotechnology company’s stock worth $6,016,000 after purchasing an additional 310,421 shares during the last quarter. 51.17% of the stock is currently owned by hedge funds and other institutional investors.
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Aldeyra Therapeutics Company Profile
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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