Aldeyra Therapeutics’ (ALDX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Aldeyra Therapeutics (NASDAQ:ALDX) in a research report released on Monday, Benzinga reports. They currently have a $10.00 price target on the biotechnology company’s stock. HC Wainwright also issued estimates for Aldeyra Therapeutics’ Q2 2024 earnings at ($0.15) EPS, Q3 2024 earnings at ($0.17) EPS, Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($0.64) EPS, FY2025 earnings at ($0.53) EPS, FY2026 earnings at ($0.23) EPS, FY2027 earnings at $0.22 EPS and FY2028 earnings at $0.62 EPS.

Several other brokerages also recently commented on ALDX. StockNews.com raised shares of Aldeyra Therapeutics from a sell rating to a hold rating in a research note on Monday, January 29th. Oppenheimer reiterated an outperform rating and set a $10.00 price target on shares of Aldeyra Therapeutics in a research report on Monday.

Aldeyra Therapeutics Price Performance

ALDX stock opened at $3.94 on Monday. Aldeyra Therapeutics has a one year low of $1.42 and a one year high of $11.97. The stock has a market cap of $234.09 million, a PE ratio of -7.73 and a beta of 1.45. The firm has a 50 day simple moving average of $3.73 and a two-hundred day simple moving average of $3.24.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings data on Thursday, March 7th. The biotechnology company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. On average, research analysts expect that Aldeyra Therapeutics will post -0.14 EPS for the current fiscal year.

Insider Activity at Aldeyra Therapeutics

In related news, major shareholder Perceptive Advisors Llc bought 8,374 shares of the company’s stock in a transaction on Monday, April 1st. The shares were acquired at an average cost of $3.25 per share, with a total value of $27,215.50. Following the completion of the acquisition, the insider now owns 8,601,960 shares of the company’s stock, valued at approximately $27,956,370. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Aldeyra Therapeutics news, insider Bruce Greenberg sold 13,201 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $3.41, for a total transaction of $45,015.41. Following the sale, the insider now directly owns 120,699 shares in the company, valued at approximately $411,583.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Perceptive Advisors Llc purchased 8,374 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was acquired at an average price of $3.25 per share, with a total value of $27,215.50. Following the purchase, the insider now directly owns 8,601,960 shares of the company’s stock, valued at $27,956,370. The disclosure for this purchase can be found here. Insiders purchased a total of 355,933 shares of company stock valued at $1,473,245 in the last 90 days. Corporate insiders own 7.30% of the company’s stock.

Institutional Trading of Aldeyra Therapeutics

A number of large investors have recently made changes to their positions in the stock. Laurion Capital Management LP lifted its position in Aldeyra Therapeutics by 12.7% during the third quarter. Laurion Capital Management LP now owns 1,128,889 shares of the biotechnology company’s stock valued at $7,541,000 after purchasing an additional 127,512 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of Aldeyra Therapeutics by 240.9% in the first quarter. Los Angeles Capital Management LLC now owns 380,773 shares of the biotechnology company’s stock worth $1,245,000 after acquiring an additional 269,061 shares during the period. Deutsche Bank AG increased its position in Aldeyra Therapeutics by 2.2% during the third quarter. Deutsche Bank AG now owns 294,775 shares of the biotechnology company’s stock valued at $1,969,000 after acquiring an additional 6,470 shares during the last quarter. Rafferty Asset Management LLC lifted its holdings in Aldeyra Therapeutics by 6.1% in the third quarter. Rafferty Asset Management LLC now owns 268,690 shares of the biotechnology company’s stock valued at $1,795,000 after acquiring an additional 15,469 shares during the period. Finally, International Assets Investment Management LLC boosted its position in Aldeyra Therapeutics by 319.2% in the fourth quarter. International Assets Investment Management LLC now owns 205,335 shares of the biotechnology company’s stock worth $7,210,000 after purchasing an additional 156,353 shares during the last quarter. 59.71% of the stock is currently owned by institutional investors.

About Aldeyra Therapeutics

Aldeyra Therapeutics is a clinical-stage biotechnology company focused on the development of novel therapies with the potential to improve the lives of patients with immune-mediated diseases. Two of the company’s lead compounds, reproxalap and ADX-629, target reactive aldehyde species (RASP), which are elevated in ocular and systemic inflammatory disease, leading to elevated levels of cytokine release via activation of a broad array of inflammatory factors, including NF-κB, inflammasomes, and Scavenger Receptor A.