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

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

Aldeyra Therapeutics Stock Performance

ALDX traded down $0.03 during trading on Thursday, reaching $0.62. 862,145 shares of the company were exchanged, compared to its average volume of 1,019,323. The company’s 50-day moving average is $1.07 and its two-hundred day moving average is $2.23. Aldeyra Therapeutics has a 12-month low of $0.53 and a 12-month high of $5.93.

Analyst Upgrades and Downgrades

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