Aldeyra Therapeutics, Inc Forecasted to Post Q2 2024 Earnings of ($0.15) Per Share (NASDAQ:ALDX)

Aldeyra Therapeutics, Inc (NASDAQ:ALDX) – Equities research analysts at HC Wainwright upped their Q2 2024 earnings per share (EPS) estimates for shares of Aldeyra Therapeutics in a report released on Monday, May 6th. HC Wainwright analyst M. Caufield now expects that the biotechnology company will post earnings of ($0.15) per share for the quarter, up from their prior forecast of ($0.17). HC Wainwright currently has a “Buy” rating and a $10.00 target price on the stock. The consensus estimate for Aldeyra Therapeutics’ current full-year earnings is ($0.14) per share. HC Wainwright also issued estimates for Aldeyra Therapeutics’ Q3 2024 earnings at ($0.17) EPS, Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($0.64) EPS, FY2025 earnings at ($0.53) EPS and FY2026 earnings at ($0.23) EPS.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.13.

Other research analysts have also recently issued reports about the company. StockNews.com cut Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday. Oppenheimer reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Aldeyra Therapeutics in a research report on Monday.

Aldeyra Therapeutics Price Performance

Aldeyra Therapeutics stock opened at $4.07 on Thursday. The stock has a market capitalization of $241.81 million, a PE ratio of -7.98 and a beta of 1.45. The business’s fifty day moving average is $3.72 and its 200 day moving average is $3.24. Aldeyra Therapeutics has a one year low of $1.42 and a one year high of $11.97.

Hedge Funds Weigh In On Aldeyra Therapeutics

Several large investors have recently modified their holdings of the stock. Prime Capital Investment Advisors LLC bought a new position in Aldeyra Therapeutics in the 4th quarter valued at $35,000. SG Americas Securities LLC purchased a new stake in shares of Aldeyra Therapeutics in the 4th quarter worth $39,000. NorthRock Partners LLC purchased a new stake in shares of Aldeyra Therapeutics in the 4th quarter worth $42,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of Aldeyra Therapeutics in the 1st quarter worth $49,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Aldeyra Therapeutics by 1,064.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 22,167 shares of the biotechnology company’s stock worth $78,000 after buying an additional 20,264 shares during the period. Institutional investors own 59.71% of the company’s stock.

Insider Activity

In other Aldeyra Therapeutics news, major shareholder Perceptive Advisors Llc purchased 8,374 shares of the stock in a transaction that occurred 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 acquisition, the insider now owns 8,601,960 shares in the company, valued at $27,956,370. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Perceptive Advisors Llc acquired 8,374 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were acquired at an average cost 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 of the company’s stock, valued at $27,956,370. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Todd C. Brady sold 97,914 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $3.27, for a total value 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 disclosure for this sale can be found here. Insiders have purchased a total of 355,933 shares of company stock valued at $1,473,245 in the last ninety days. Corporate insiders own 7.30% of the company’s stock.

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.