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Alliance Global Partners Maintains Their Buy Rating on Aldeyra Therapeutics (ALDX)

In a report released today, Matthew Cross from Alliance Global Partners maintained a Buy rating on Aldeyra Therapeutics (ALDXResearch Report), with a price target of $24.00. The company’s shares closed last Thursday at $2.78, close to its 52-week low of $2.72.

According to TipRanks.com, Cross is a 2-star analyst with an average return of 0.8% and a 32.6% success rate. Cross covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, TRACON Pharmaceuticals, and Syros Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Aldeyra Therapeutics with a $22.00 average price target, implying a 619.0% upside from current levels. In a report issued on April 27, H.C. Wainwright also initiated coverage with a Buy rating on the stock with a $15.00 price target.

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Aldeyra Therapeutics’ market cap is currently $162.1M and has a P/E ratio of -2.61.

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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. The company was founded by Thomas A. Jordan and John E. Dowling on August 13, 2004 and is headquartered in Lexington, MA.

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