Aldeyra Therapeutics (NASDAQ:ALDX) Raised to Outperform at Oppenheimer

Oppenheimer upgraded shares of Aldeyra Therapeutics (NASDAQ:ALDX - Free Report) from a market perform rating to an outperform rating in a report issued on Wednesday morning, MarketBeat.com reports. Oppenheimer currently has $10.00 price target on the biotechnology company's stock.

A number of other equities analysts have also issued reports on the stock. HC Wainwright reaffirmed a buy rating and set a $10.00 target price on shares of Aldeyra Therapeutics in a research report on Tuesday. StockNews.com raised shares of Aldeyra Therapeutics from a sell rating to a hold rating in a research report on Monday, January 29th.

Aldeyra Therapeutics Stock Up 16.9 %

Shares of NASDAQ:ALDX traded up $0.60 during trading on Wednesday, reaching $4.15. The stock had a trading volume of 2,309,872 shares, compared to its average volume of 534,890. Aldeyra Therapeutics has a 52 week low of $1.42 and a 52 week high of $11.97. The firm has a market capitalization of $244.44 million, a price-to-earnings ratio of -6.48 and a beta of 1.51. The stock has a fifty day simple moving average of $3.34 and a two-hundred day simple moving average of $3.42.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last released its quarterly 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. On average, analysts forecast that Aldeyra Therapeutics will post -0.26 EPS for the current year.

Insiders Place Their Bets

In other Aldeyra Therapeutics news, CEO Todd C. Brady sold 97,914 shares of Aldeyra Therapeutics stock in a transaction on Monday, March 11th. The shares were sold at an average price of $3.27, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Aldeyra Therapeutics news, CEO Todd C. Brady sold 97,914 shares of Aldeyra Therapeutics stock in a transaction on Monday, March 11th. The shares were sold at an average price of $3.27, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Perceptive Advisors Llc bought 8,374 shares of Aldeyra Therapeutics stock in a transaction dated Monday, April 1st. The stock was purchased 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 approximately $27,956,370. The disclosure for this purchase can be found here. Corporate insiders own 7.30% of the company's stock.

Institutional Investors Weigh In On Aldeyra Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Aigen Investment Management LP acquired a new stake in shares of Aldeyra Therapeutics in the 3rd quarter valued at $80,000. Deutsche Bank AG boosted its stake in shares of Aldeyra Therapeutics by 2.2% in the 3rd quarter. Deutsche Bank AG now owns 294,775 shares of the biotechnology company's stock valued at $1,969,000 after purchasing an additional 6,470 shares in the last quarter. Citigroup Inc. boosted its stake 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 purchasing an additional 29,031 shares in the last quarter. Barclays PLC boosted its stake in shares of Aldeyra Therapeutics by 9.0% in the 3rd quarter. Barclays PLC now owns 138,311 shares of the biotechnology company's stock valued at $924,000 after purchasing an additional 11,447 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Aldeyra Therapeutics in the 3rd quarter valued at $124,000. Institutional investors and hedge funds 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.