H.C. Wainwright Initiates Coverage on Aldeyra Therapeutics Inc to Buy

H.C. Wainwright Initiates Coverage on Aldeyra Therapeutics Inc(NASDAQ:ALDX). The shares have been rated Buy. The rating by H.C. Wainwright was issued on Sep 26, 2016.

Aldeyra Therapeutics Inc (ALDX) made into the market gainers list on Thursdays trading session with the shares advancing 0.96% or 0.07 points. Due to strong positive momentum, the stock ended at $7.35, which is also near the day’s high of $7.432. The stock began the session at $7.16 and the volume stood at 21,238 shares. The 52-week high of the shares is $7.7 and the 52 week low is $3.39. The company has a current market capitalization of $92 M and it has 1,24,72,521 shares in outstanding.

Aldeyra Therapeutics Inc(ALDX) last announced its earnings results on Aug 10, 2016 for Fiscal Year 2016 and Q2.Earnings per share were $-0.41. Analysts had estimated an EPS of $-0.44.

Aldeyra Therapeutics Inc. formerly Aldexa Therapeutics Inc. is a biotechnology company. The Company is focused primarily on the development of new products for immune-mediated inflammatory orphan and other diseases that are caused by naturally occurring toxic chemical species known as free aldehydes. The Company has developed a series of product candidates that are designed specifically to trap and allow for the degradation of free aldehydes. The Company’s most advanced product candidate is an eye drop formulation of NS2 which is under development for the treatment of Sjogren-Larsson Syndrome (SLS). The Company has completed a double-masked placebo-controlled Phase I clinical testing of 0.25% and 0.5% NS2 administered as an eye drop for safety and tolerability in approximately 48 healthy volunteers. Data from the Phase I study demonstrated that NS2 was well tolerated in all subjects throughout the duration of the study.

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