Aldeyra Therapeutics’ (ALDX) “Outperform” Rating Reiterated at Oppenheimer

Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “outperform” rating reaffirmed by Oppenheimer in a note issued to investors on Monday, Benzinga reports. They currently have a $10.00 price objective on the biotechnology company’s stock. Oppenheimer’s target price indicates a potential upside of 139.81% from the stock’s previous close.

A number of other research analysts also recently commented on ALDX. StockNews.com raised Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, January 29th. HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Aldeyra Therapeutics in a research note on Tuesday, April 2nd.

Aldeyra Therapeutics Stock Up 1.2 %

Shares of NASDAQ:ALDX opened at $4.17 on Monday. The company has a 50 day moving average of $3.72 and a two-hundred day moving average of $3.23. Aldeyra Therapeutics has a 52-week low of $1.42 and a 52-week high of $11.97. The company has a market capitalization of $247.74 million, a price-to-earnings ratio of -8.18 and a beta of 1.45.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.13. On average, equities analysts anticipate that Aldeyra Therapeutics will post -0.14 earnings per share for the current year.

Insider Activity at Aldeyra Therapeutics

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

Institutional Trading of Aldeyra Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ALDX. 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 worth $1,245,000 after buying an additional 269,061 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Aldeyra Therapeutics by 319.2% in the 4th quarter. International Assets Investment Management LLC now owns 205,335 shares of the biotechnology company’s stock worth $7,210,000 after acquiring an additional 156,353 shares during the period. Laurion Capital Management LP lifted its position in Aldeyra Therapeutics by 12.7% in the 3rd 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 last quarter. Strs Ohio boosted its stake in Aldeyra Therapeutics by 270.8% during the 4th quarter. Strs Ohio now owns 87,500 shares of the biotechnology company’s stock valued at $307,000 after purchasing an additional 63,900 shares during the period. Finally, Cornercap Investment Counsel Inc. bought a new position in Aldeyra Therapeutics in the 4th quarter worth about $216,000. 59.71% of the stock is currently owned by institutional investors and hedge funds.

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.