Oppenheimer Reaffirms Outperform Rating for Aldeyra Therapeutics (NASDAQ:ALDX)

Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “outperform” rating restated by Oppenheimer in a report released on Monday, Benzinga reports. They presently have a $10.00 target price on the biotechnology company’s stock. Oppenheimer’s price objective indicates a potential upside of 140.38% from the stock’s previous close.

Several other analysts have also weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Aldeyra Therapeutics in a report on Tuesday, April 2nd. StockNews.com upgraded Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, January 29th.

Aldeyra Therapeutics Price Performance

NASDAQ ALDX opened at $4.16 on Monday. Aldeyra Therapeutics has a 1-year low of $1.42 and a 1-year 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 stock has a 50-day moving average of $3.70 and a two-hundred day moving average of $3.20.

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

Insider Activity

In related news, 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 sale, the chief executive officer now directly owns 1,556,622 shares in the company, valued at $5,090,153.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Aldeyra Therapeutics news, insider Bruce Greenberg sold 13,201 shares of Aldeyra Therapeutics stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $3.41, for a total transaction of $45,015.41. Following the transaction, the insider now owns 120,699 shares of the company’s stock, valued at approximately $411,583.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd C. Brady sold 97,914 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $3.27, for a total value of $320,178.78. Following the completion of the sale, the chief executive officer now directly owns 1,556,622 shares of the company’s stock, valued at approximately $5,090,153.94. The disclosure for this sale can be found here. Over the last quarter, insiders bought 355,933 shares of company stock valued at $1,473,245. 7.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aldeyra Therapeutics

Several large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in Aldeyra Therapeutics during the third quarter worth approximately $124,000. Hennion & Walsh Asset Management Inc. boosted its position in Aldeyra Therapeutics by 89.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 73,669 shares of the biotechnology company’s stock worth $492,000 after purchasing an additional 34,796 shares during the period. Fox Run Management L.L.C. bought a new stake in Aldeyra Therapeutics during the third quarter worth approximately $224,000. Barclays PLC boosted its position in Aldeyra Therapeutics by 9.0% during the third quarter. Barclays PLC now owns 138,311 shares of the biotechnology company’s stock worth $924,000 after purchasing an additional 11,447 shares during the period. Finally, Citigroup Inc. boosted its position in Aldeyra Therapeutics by 34.6% during the third quarter. Citigroup Inc. now owns 113,036 shares of the biotechnology company’s stock worth $755,000 after purchasing an additional 29,031 shares during the period. Institutional investors own 59.71% of the company’s stock.

Aldeyra Therapeutics Company Profile

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.