HC Wainwright Reiterates Buy Rating for Aldeyra Therapeutics (NASDAQ:ALDX)

HC Wainwright reaffirmed their buy rating on shares of Aldeyra Therapeutics (NASDAQ:ALDX) in a research report released on Monday morning, Benzinga reports. HC Wainwright currently has a $10.00 target price on the biotechnology company’s stock. HC Wainwright also issued estimates for Aldeyra Therapeutics’ FY2027 earnings at $0.22 EPS and FY2028 earnings at $0.62 EPS.

A number of other brokerages have also issued reports on ALDX. StockNews.com upgraded shares of Aldeyra Therapeutics from a sell rating to a hold rating in a research note on Monday, January 29th. Oppenheimer restated an outperform rating and issued a $10.00 target price on shares of Aldeyra Therapeutics in a research note on Monday.

Aldeyra Therapeutics Price Performance

Shares of NASDAQ:ALDX opened at $4.07 on Monday. The business’s 50-day moving average is $3.72 and its 200 day moving average is $3.24. Aldeyra Therapeutics has a 1 year low of $1.42 and a 1 year high of $11.97. The firm has a market capitalization of $241.81 million, a P/E ratio of -7.98 and a beta of 1.45.

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

Insiders Place Their Bets

In other Aldeyra Therapeutics news, major shareholder Perceptive Advisors Llc acquired 37,712 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were purchased at an average price of $4.74 per share, for a total transaction of $178,754.88. Following the completion of the purchase, the insider now directly owns 9,275,851 shares of the company’s stock, valued at $43,967,533.74. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Todd C. Brady sold 97,914 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $3.27, for a total value of $320,178.78. Following the completion of the transaction, the chief executive officer now owns 1,556,622 shares of the company’s stock, valued at approximately $5,090,153.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Perceptive Advisors Llc bought 37,712 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were bought at an average cost of $4.74 per share, for a total transaction of $178,754.88. Following the completion of the acquisition, the insider now owns 9,275,851 shares of the company’s stock, valued at $43,967,533.74. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 355,933 shares of company stock valued at $1,473,245. 7.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Aldeyra Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Laurion Capital Management LP lifted its stake in shares of 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 period. Los Angeles Capital Management LLC raised its position in shares of Aldeyra Therapeutics by 240.9% in the first quarter. Los Angeles Capital Management LLC now owns 380,773 shares of the biotechnology company’s stock worth $1,245,000 after acquiring an additional 269,061 shares during the period. Deutsche Bank AG raised its position in shares of Aldeyra Therapeutics by 2.2% in the third quarter. Deutsche Bank AG now owns 294,775 shares of the biotechnology company’s stock worth $1,969,000 after acquiring an additional 6,470 shares during the period. Rafferty Asset Management LLC boosted its stake in shares of Aldeyra Therapeutics by 6.1% during the 3rd quarter. Rafferty Asset Management LLC now owns 268,690 shares of the biotechnology company’s stock worth $1,795,000 after acquiring an additional 15,469 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Aldeyra Therapeutics by 319.2% during the 4th quarter. International Assets Investment Management LLC now owns 205,335 shares of the biotechnology company’s stock valued at $7,210,000 after acquiring an additional 156,353 shares during the period. Hedge funds and other 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.