Aldeyra Therapeutics (NASDAQ:ALDX) Posts Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• Aldeyra Therapeutics reported a quarterly loss of ($0.16) earnings per share, surpassing analyst expectations of ($0.24) by $0.08.
• The company's stock price is currently $5.26, with a market capitalization of $315.07 million and a PE ratio of -5.42.
• HC Wainwright has maintained a "buy" rating on Aldeyra Therapeutics with a price target of $10.00 per share.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.05, Zacks reports.

Aldeyra Therapeutics Stock Performance

Shares of NASDAQ ALDX traded up $0.09 during midday trading on Friday, reaching $5.26. 1,314,007 shares of the stock were exchanged, compared to its average volume of 1,160,498. The firm has a market cap of $315.07 million, a price-to-earnings ratio of -5.42 and a beta of 0.76. Aldeyra Therapeutics has a twelve month low of $1.14 and a twelve month high of $7.20. The firm has a 50-day simple moving average of $4.12 and a two-hundred day simple moving average of $4.25. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.24.

Wall Street Analysts Forecast Growth

ALDX has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Aldeyra Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. HC Wainwright reissued a "buy" rating and set a $10.00 target price on shares of Aldeyra Therapeutics in a research report on Monday, May 19th.

Institutional Investors Weigh In On Aldeyra Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in shares of Aldeyra Therapeutics by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,146,597 shares of the biotechnology company's stock worth $4,392,000 after acquiring an additional 8,769 shares during the period. AQR Capital Management LLC raised its holdings in Aldeyra Therapeutics by 456.3% in the 1st quarter. AQR Capital Management LLC now owns 392,555 shares of the biotechnology company's stock valued at $2,257,000 after buying an additional 321,992 shares during the period. Jane Street Group LLC purchased a new stake in Aldeyra Therapeutics in the 1st quarter valued at about $1,024,000. Acadian Asset Management LLC raised its holdings in Aldeyra Therapeutics by 7,402.7% in the 1st quarter. Acadian Asset Management LLC now owns 95,960 shares of the biotechnology company's stock valued at $551,000 after buying an additional 94,681 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Aldeyra Therapeutics in the 1st quarter valued at about $218,000. Institutional investors and hedge funds own 59.71% 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.