Aldeyra Therapeutics (NASDAQ:ALDX) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Aldeyra Therapeutics (NASDAQ:ALDX) in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a $10.00 price target on the biotechnology company’s stock.

Separately, BTIG Research decreased their target price on shares of Aldeyra Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday, April 7th.

Aldeyra Therapeutics Stock Up 12.0%

Shares of ALDX stock opened at $2.42 on Monday. The stock has a market cap of $144.95 million, a P/E ratio of -2.49 and a beta of 0.92. Aldeyra Therapeutics has a 52 week low of $1.14 and a 52 week high of $7.20. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.18. The company’s fifty day simple moving average is $3.47 and its two-hundred day simple moving average is $4.71.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.08. Analysts predict that Aldeyra Therapeutics will post -0.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Aldeyra Therapeutics news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 5,875,851 shares in the company, valued at $8,343,708.42. This represents a 36.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.60% of the company’s stock.

Hedge Funds Weigh In On Aldeyra Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC bought a new position in shares of Aldeyra Therapeutics during the fourth quarter valued at approximately $52,000. Balyasny Asset Management L.P. bought a new position in shares of Aldeyra Therapeutics during the fourth quarter valued at approximately $56,000. Capital Advisors Wealth Management LLC bought a new position in shares of Aldeyra Therapeutics during the first quarter valued at approximately $62,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Aldeyra Therapeutics during the first quarter valued at approximately $63,000. Finally, Catalyst Funds Management Pty Ltd lifted its position in Aldeyra Therapeutics by 2,083.3% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 13,100 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 12,500 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.