HC Wainwright Reaffirms Buy Rating for Aldeyra Therapeutics (NASDAQ:ALDX)

HC Wainwright reaffirmed their buy rating on shares of Aldeyra Therapeutics (NASDAQ:ALDX) in a research report sent to investors on Monday, Benzinga reports. They currently have a $10.00 target price 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.

Other equities research analysts also recently issued research reports about the company. Oppenheimer reaffirmed an outperform rating and set a $10.00 target price on shares of Aldeyra Therapeutics in a report on Monday. StockNews.com upgraded shares of Aldeyra Therapeutics from a sell rating to a hold rating in a research note on Monday, January 29th.

Aldeyra Therapeutics Stock Performance

Shares of NASDAQ ALDX opened at $3.94 on Monday. Aldeyra Therapeutics has a fifty-two week low of $1.42 and a fifty-two week high of $11.97. The company has a market cap of $234.09 million, a PE ratio of -7.73 and a beta of 1.45. The business 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 posted its quarterly earnings data on Thursday, March 7th. The biotechnology company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.13. On average, sell-side analysts predict that Aldeyra Therapeutics will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Aldeyra Therapeutics

In other Aldeyra Therapeutics news, major shareholder Perceptive Advisors Llc purchased 37,712 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was purchased at an average price of $4.74 per share, for a total transaction of $178,754.88. Following the purchase, the insider now directly owns 9,275,851 shares in the company, valued at $43,967,533.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Perceptive Advisors Llc acquired 37,712 shares of Aldeyra Therapeutics stock in a transaction on Friday, April 5th. The stock was bought at an average cost of $4.74 per share, for a total transaction of $178,754.88. Following the completion of the transaction, the insider now owns 9,275,851 shares of the company’s stock, valued at approximately $43,967,533.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bruce Greenberg sold 13,201 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $3.41, for a total transaction of $45,015.41. Following the transaction, the insider now owns 120,699 shares of the company’s stock, valued at approximately $411,583.59. The disclosure for this sale can be found here. Insiders have bought a total of 355,933 shares of company stock valued at $1,473,245 in the last ninety days. 7.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Aldeyra Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALDX. Laurion Capital Management LP raised its position in shares of Aldeyra Therapeutics by 12.7% in 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 buying an additional 127,512 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in Aldeyra Therapeutics by 240.9% during the 1st quarter. Los Angeles Capital Management LLC now owns 380,773 shares of the biotechnology company’s stock valued at $1,245,000 after acquiring an additional 269,061 shares in the last quarter. Deutsche Bank AG raised its holdings in Aldeyra Therapeutics by 2.2% in the 3rd 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 stake in Aldeyra Therapeutics by 6.1% in the 3rd quarter. Rafferty Asset Management LLC now owns 268,690 shares of the biotechnology company’s stock worth $1,795,000 after purchasing an additional 15,469 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of 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 valued at $7,210,000 after purchasing an additional 156,353 shares in the last quarter. Institutional investors and hedge funds own 59.71% of the company’s stock.

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.