Aldeyra Therapeutics' (ALDX) Outperform Rating Reaffirmed at Oppenheimer

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Oppenheimer in a report released on Monday, Benzinga reports. They currently have a $10.00 target price on the biotechnology company's stock. Oppenheimer's target price indicates a potential upside of 142.72% from the company's previous close.

ALDX has been the topic of several other research reports. HC Wainwright reissued a "buy" rating and issued a $10.00 target price on shares of Aldeyra Therapeutics in a research note 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 Stock Performance

Shares of ALDX traded down $0.04 during mid-day trading on Monday, hitting $4.12. 305,625 shares of the stock were exchanged, compared to its average volume of 565,127. The firm has a 50-day moving average of $3.71 and a two-hundred day moving average of $3.22. Aldeyra Therapeutics has a 52-week low of $1.42 and a 52-week high of $11.97. The company has a market cap of $244.77 million, a PE ratio of -8.08 and a beta of 1.45.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.13. On average, sell-side analysts predict that Aldeyra Therapeutics will post -0.14 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Perceptive Advisors Llc purchased 37,712 shares of the firm's stock in a transaction dated Friday, April 5th. The stock was purchased at an average price of $4.74 per share, with a total value of $178,754.88. Following the completion of the purchase, the insider now owns 9,275,851 shares of the company's stock, valued at approximately $43,967,533.74. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Perceptive Advisors Llc purchased 37,712 shares of the company's stock in a transaction dated Friday, April 5th. The shares were acquired at an average price of $4.74 per share, with a total value of $178,754.88. Following the transaction, the insider now owns 9,275,851 shares of the company's stock, valued at $43,967,533.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 value of $320,178.78. Following the completion of the sale, the chief executive officer now owns 1,556,622 shares of the company's stock, valued at $5,090,153.94. The disclosure for this sale can be found here. Insiders have purchased 355,933 shares of company stock valued at $1,473,245 in the last 90 days. Company insiders own 7.30% of the company's stock.

Hedge Funds Weigh In On Aldeyra Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in Aldeyra Therapeutics during the third quarter worth $124,000. Hennion & Walsh Asset Management Inc. grew its stake in Aldeyra Therapeutics by 89.5% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 73,669 shares of the biotechnology company's stock valued at $492,000 after purchasing an additional 34,796 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Aldeyra Therapeutics in the third quarter worth about $224,000. Barclays PLC lifted its position in shares of Aldeyra Therapeutics by 9.0% during the third quarter. Barclays PLC now owns 138,311 shares of the biotechnology company's stock valued at $924,000 after buying an additional 11,447 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Aldeyra Therapeutics by 34.6% in the 3rd quarter. Citigroup Inc. now owns 113,036 shares of the biotechnology company's stock valued at $755,000 after buying an additional 29,031 shares in the last quarter. 59.71% of the stock is currently owned by institutional investors.

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.