Aldeyra Therapeutics (NASDAQ:ALDX) Earns Buy Rating from HC Wainwright

Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They presently have a $10.00 target price on the biotechnology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 140.38% from the stock’s current price.

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

Aldeyra Therapeutics Trading Down 1.2 %

Shares of ALDX opened at $4.16 on Monday. Aldeyra Therapeutics has a twelve month low of $1.42 and a twelve month high of $11.97. The company has a market cap of $247.15 million, a P/E ratio of -8.16 and a beta of 1.45. The company’s fifty day simple moving average is $3.70 and its 200-day simple moving average is $3.20.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.13. Analysts predict that Aldeyra Therapeutics will post -0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Aldeyra Therapeutics 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 bought at an average cost of $3.25 per share, for a total transaction of $27,215.50. Following the acquisition, the insider now directly owns 8,601,960 shares in the company, valued at $27,956,370. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Aldeyra Therapeutics news, CEO Todd C. Brady sold 97,914 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $3.27, for a total transaction of $320,178.78. Following the transaction, the chief executive officer now directly owns 1,556,622 shares in the company, valued at approximately $5,090,153.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Perceptive Advisors Llc purchased 8,374 shares of the stock in a transaction dated Monday, April 1st. The stock was purchased at an average price of $3.25 per share, for a total transaction of $27,215.50. Following the completion of the acquisition, the insider now directly owns 8,601,960 shares in the company, valued at approximately $27,956,370. The disclosure for this purchase can be found here. Insiders have acquired a total of 355,933 shares of company stock worth $1,473,245 in the last three months. Corporate insiders own 7.30% of the company’s stock.

Institutional Trading of Aldeyra Therapeutics

Institutional investors have recently modified their holdings of the company. Prime Capital Investment Advisors LLC bought a new stake in shares of Aldeyra Therapeutics in the 4th quarter valued at about $35,000. SG Americas Securities LLC bought a new stake in shares of Aldeyra Therapeutics in the 4th quarter valued at about $39,000. NorthRock Partners LLC acquired a new stake in Aldeyra Therapeutics in the 4th quarter worth approximately $42,000. Aigen Investment Management LP acquired a new stake in Aldeyra Therapeutics in the 3rd quarter worth approximately $80,000. Finally, Pale Fire Capital SE acquired a new stake in Aldeyra Therapeutics in the 3rd quarter worth approximately $98,000. 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-?B, inflammasomes, and Scavenger Receptor A.