Aldeyra Therapeutics (NASDAQ:ALDX) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Aldeyra Therapeutics (NASDAQ:ALDX) issued its quarterly earnings data on Thursday. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.05, FiscalAI reports.

Aldeyra Therapeutics Price Performance

Aldeyra Therapeutics stock traded down $0.03 during mid-day trading on Thursday, hitting $0.62. 862,145 shares of the company were exchanged, compared to its average volume of 1,019,323. Aldeyra Therapeutics has a 12-month low of $0.53 and a 12-month high of $5.93. The company has a market capitalization of $37.16 million, a P/E ratio of -1.58 and a beta of 1.32. The business’s 50 day simple moving average is $1.07 and its two-hundred day simple moving average is $2.23.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Weiss Ratings lowered Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, September 14th. BTIG Research reaffirmed a “buy” rating on shares of Aldeyra Therapeutics in a research note on Tuesday, September 29th. HC Wainwright reaffirmed a “neutral” rating and set a $2.00 price target on shares of Aldeyra Therapeutics in a research note on Wednesday, September 30th. Finally, Wall Street Zen lowered shares of Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Aldeyra Therapeutics currently has an average rating of “Hold” and an average price target of $5.50.

Aldeyra Therapeutics Company Profile

Aldeyra Therapeutics, Inc is a clinical-stage biotechnology company focused on developing therapies for immune-mediated diseases. The company’s research centers on reactive aldehyde species, or RASP, which are inflammatory signaling molecules that may contribute to ocular and systemic diseases.

Aldeyra’s lead investigational product is reproxalap, an eye drop designed to inhibit RASP activity. The company has studied reproxalap in conditions including dry eye disease and allergic conjunctivitis.