Aldeyra Therapeutics (ALDX) Scheduled to Post Quarterly Earnings on Friday

Posted by MarketBeat News on Aug 4th, 2022

Aldeyra Therapeutics (NASDAQ:ALDX – Get Rating) is scheduled to be issuing its quarterly earnings data before the market opens on Friday, August 5th. Analysts expect the company to announce earnings of ($0.32) per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Aldeyra Therapeutics (NASDAQ:ALDX – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The biotechnology company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.02. During the same quarter last year, the firm posted ($0.25) earnings per share. On average, analysts expect Aldeyra Therapeutics to post $-1 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Aldeyra Therapeutics Stock Up 2.8 %

Aldeyra Therapeutics stock opened at $5.80 on Thursday. The stock has a market capitalization of $338.15 million, a PE ratio of -5.23 and a beta of 1.43. Aldeyra Therapeutics has a twelve month low of $2.36 and a twelve month high of $10.19. The company has a quick ratio of 13.60, a current ratio of 13.60 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $4.09 and a 200-day moving average of $3.90.

Insiders Place Their Bets

In other news, CEO Todd C. Brady acquired 17,700 shares of Aldeyra Therapeutics stock in a transaction on Thursday, June 23rd. The shares were purchased at an average cost of $3.36 per share, for a total transaction of $59,472.00. Following the completion of the purchase, the chief executive officer now directly owns 1,216,535 shares of the company’s stock, valued at approximately $4,087,557.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Todd C. Brady purchased 17,700 shares of Aldeyra Therapeutics stock in a transaction dated Thursday, June 23rd. The shares were bought at an average cost of $3.36 per share, for a total transaction of $59,472.00. Following the purchase, the chief executive officer now owns 1,216,535 shares in the company, valued at approximately $4,087,557.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Perceptive Advisors Llc purchased 144,185 shares of Aldeyra Therapeutics stock in a transaction dated Monday, August 1st. The stock was bought at an average price of $5.05 per share, for a total transaction of $728,134.25. Following the completion of the purchase, the insider now owns 10,389,579 shares in the company, valued at approximately $52,467,373.95. The disclosure for this purchase can be found here. Insiders have bought 285,600 shares of company stock worth $1,399,610 over the last ninety days. Corporate insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Aldeyra Therapeutics

A number of hedge funds have recently made changes to their positions in ALDX. PDT Partners LLC acquired a new stake in Aldeyra Therapeutics during the 1st quarter worth approximately $82,000. JPMorgan Chase & Co. boosted its position in Aldeyra Therapeutics by 21.3% during the 1st quarter. JPMorgan Chase & Co. now owns 22,835 shares of the biotechnology company’s stock worth $101,000 after buying an additional 4,012 shares during the period. Raymond James & Associates raised its holdings in Aldeyra Therapeutics by 21.2% during the 1st quarter. Raymond James & Associates now owns 26,306 shares of the biotechnology company’s stock worth $117,000 after purchasing an additional 4,609 shares during the last quarter. Prudential Financial Inc. bought a new position in Aldeyra Therapeutics during the 1st quarter worth approximately $176,000. Finally, Rhumbline Advisers raised its holdings in Aldeyra Therapeutics by 11.7% during the 1st quarter. Rhumbline Advisers now owns 47,596 shares of the biotechnology company’s stock worth $212,000 after purchasing an additional 4,996 shares during the last quarter. 62.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ALDX. Citigroup increased their target price on shares of Aldeyra Therapeutics from $21.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, June 9th. Berenberg Bank began coverage on shares of Aldeyra Therapeutics in a report on Tuesday, May 24th. They set a “buy” rating and a $28.00 target price for the company. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Aldeyra Therapeutics in a report on Wednesday, July 13th. Finally, Oppenheimer increased their target price on shares of Aldeyra Therapeutics to $11.00 in a report on Thursday, June 9th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Aldeyra Therapeutics has an average rating of “Moderate Buy” and an average target price of $19.00.

About Aldeyra Therapeutics

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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.