HC Wainwright Has Bullish Forecast for ALDX FY2029 Earnings

Aldeyra Therapeutics, Inc (NASDAQ:ALDX) – Investment analysts at HC Wainwright boosted their FY2029 earnings estimates for Aldeyra Therapeutics in a research note issued on Monday, May 19th. HC Wainwright analyst M. Caufield now anticipates that the biotechnology company will post earnings per share of $1.10 for the year, up from their prior estimate of $1.00. HC Wainwright has a “Buy” rating and a $10.00 price target on the stock. The consensus estimate for Aldeyra Therapeutics’ current full-year earnings is ($0.92) per share.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.08.

A number of other analysts have also recently issued reports on ALDX. BTIG Research cut their target price on shares of Aldeyra Therapeutics from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, April 7th. StockNews.com upgraded shares of Aldeyra Therapeutics to a “sell” rating in a research report on Wednesday.

Aldeyra Therapeutics Stock Performance

NASDAQ ALDX opened at $2.36 on Tuesday. The firm has a 50-day moving average of $3.38 and a 200-day moving average of $4.69. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.80 and a current ratio of 6.80. The stock has a market cap of $141.35 million, a PE ratio of -2.43 and a beta of 0.92. Aldeyra Therapeutics has a 52-week low of $1.14 and a 52-week high of $7.20.

Hedge Funds Weigh In On Aldeyra Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALDX. Kingdon Capital Management L.L.C. bought a new position in Aldeyra Therapeutics in the 1st quarter valued at approximately $4,479,000. Raymond James Financial Inc. bought a new position in Aldeyra Therapeutics in the 4th quarter valued at approximately $3,628,000. Invesco Ltd. boosted its position in Aldeyra Therapeutics by 1,575.7% during the 1st quarter. Invesco Ltd. now owns 501,137 shares of the biotechnology company’s stock worth $2,882,000 after buying an additional 471,231 shares during the period. ADAR1 Capital Management LLC grew its holdings in Aldeyra Therapeutics by 114.4% during the 4th quarter. ADAR1 Capital Management LLC now owns 647,960 shares of the biotechnology company’s stock worth $3,233,000 after acquiring an additional 345,748 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Aldeyra Therapeutics by 456.3% during the 1st quarter. AQR Capital Management LLC now owns 392,555 shares of the biotechnology company’s stock worth $2,257,000 after acquiring an additional 321,992 shares during the last quarter. Institutional investors own 59.71% of the company’s stock.

Insider Activity at Aldeyra Therapeutics

In related news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $1.42, for a total value of $4,828,000.00. Following the completion of the transaction, the insider now owns 5,875,851 shares of the company’s stock, valued at $8,343,708.42. This represents a 36.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.60% of the stock is owned by insiders.

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.