JonesTrading Keeps a Buy Rating on Aldeyra Therapeutics (ALDX)

By Austin Angelo

JonesTrading analyst Matthew Cross maintained a Buy rating on Aldeyra Therapeutics (ALDXResearch Report) on June 25 and set a price target of $34. The company’s shares closed on Friday at $6, close to its 52-week low of $4.99.

According to TipRanks.com, Cross is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.3% and a 28.7% success rate. Cross covers the Healthcare sector, focusing on stocks such as Aeglea Biotherapeutics Inc, Catalyst Biosciences Inc, and Actinium Pharmaceuticals.

Aldeyra Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $29, which is a 383.3% upside from current levels. In a report issued on June 25, Janney Montgomery also maintained a Buy rating on the stock.

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Based on Aldeyra Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $15.62 million. In comparison, last year the company had a GAAP net loss of $8.4 million.

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Aldeyra Therapeutics, Inc. operates as a biotechnology company. It primarily focuses on the development of new products for immune-mediated, inflammatory, orphan and other diseases that are thought to be caused in part by naturally occurring toxic chemical species known as free aldehydes.