Aldeyra Therapeutics (NASDAQ:ALDX) Given “Outperform” Rating at Oppenheimer

Oppenheimer reissued their outperform rating on shares of Aldeyra Therapeutics (NASDAQ:ALDX) in a research report released on Monday morning, Benzinga reports. Oppenheimer currently has a $10.00 target price on the biotechnology company’s stock.

ALDX has been the subject of a number of other reports. StockNews.com raised shares of Aldeyra Therapeutics from a sell rating to a hold rating in a research report on Monday, January 29th. HC Wainwright reaffirmed a buy rating and set a $10.00 target price on shares of Aldeyra Therapeutics in a research report on Tuesday, April 2nd.

Aldeyra Therapeutics Stock Performance

ALDX stock opened at $3.94 on Monday. The company has a market capitalization of $234.09 million, a P/E ratio of -7.73 and a beta of 1.45. Aldeyra Therapeutics has a 52-week low of $1.42 and a 52-week high of $11.97. The business has a 50-day simple moving average of $3.73 and a two-hundred day simple moving average of $3.24.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.13. As a group, sell-side analysts forecast that Aldeyra Therapeutics will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Aldeyra Therapeutics

In other Aldeyra Therapeutics news, major shareholder Perceptive Advisors Llc acquired 8,374 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Perceptive Advisors Llc bought 8,374 shares of the business’s stock in a transaction on Monday, April 1st. The stock was acquired at an average price of $3.25 per share, for a total transaction of $27,215.50. Following the purchase, the insider now directly 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 is available through the SEC website. Also, CEO Todd C. Brady sold 97,914 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $3.27, for a total value of $320,178.78. Following the sale, the chief executive officer now owns 1,556,622 shares in the company, valued at $5,090,153.94. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 355,933 shares of company stock worth $1,473,245. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Aigen Investment Management LP bought a new position in Aldeyra Therapeutics in the 3rd quarter worth about $80,000. Deutsche Bank AG increased 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 purchasing an additional 6,470 shares during the last quarter. Citigroup Inc. raised its stake in Aldeyra Therapeutics by 34.6% in the third quarter. Citigroup Inc. now owns 113,036 shares of the biotechnology company’s stock valued at $755,000 after purchasing an additional 29,031 shares in the last quarter. International Assets Investment Management LLC lifted its position in Aldeyra Therapeutics by 319.2% during the fourth quarter. International Assets Investment Management LLC now owns 205,335 shares of the biotechnology company’s stock valued at $7,210,000 after purchasing an additional 156,353 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new position in Aldeyra Therapeutics in the 4th quarter worth approximately $35,000. 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.