Oppenheimer Reaffirms Outperform Rating for Aldeyra Therapeutics (NASDAQ:ALDX)

Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “outperform” rating restated by equities researchers at Oppenheimer in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $10.00 price objective on the biotechnology company’s stock. Oppenheimer’s price target would indicate a potential upside of 140.38% from the stock’s current price.

Several other research firms also recently commented on ALDX. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Aldeyra Therapeutics in a report on Tuesday, April 2nd. StockNews.com raised shares of Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, January 29th.

Aldeyra Therapeutics Trading Down 1.2 %

Shares of NASDAQ ALDX opened at $4.16 on Monday. The firm has a 50 day moving average of $3.70 and a 200 day moving average of $3.20. The firm has a market capitalization of $247.15 million, a price-to-earnings ratio of -8.16 and a beta of 1.45. Aldeyra Therapeutics has a 12-month low of $1.42 and a 12-month high of $11.97.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.13. Sell-side analysts predict that Aldeyra Therapeutics will post -0.14 EPS for the current year.

Insider Activity

In other news, insider Bruce Greenberg sold 13,201 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $3.41, for a total value of $45,015.41. Following the sale, the insider now owns 120,699 shares of the company’s stock, valued at $411,583.59. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder Perceptive Advisors Llc purchased 8,374 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were purchased at an average cost of $3.25 per share, for a total transaction of $27,215.50. Following the completion of the acquisition, the insider now owns 8,601,960 shares in the company, valued at approximately $27,956,370. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bruce Greenberg sold 13,201 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $3.41, for a total transaction of $45,015.41. Following the completion of the transaction, the insider now owns 120,699 shares in the company, valued at $411,583.59. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 355,933 shares of company stock valued at $1,473,245. 7.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALDX. Los Angeles Capital Management LLC grew its holdings in Aldeyra Therapeutics by 240.9% during the 1st 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 in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Aldeyra Therapeutics by 319.2% in 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 buying an additional 156,353 shares in the last quarter. Laurion Capital Management LP boosted its holdings 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 buying an additional 127,512 shares in the last quarter. Strs Ohio boosted its holdings in shares of Aldeyra Therapeutics by 270.8% in the 4th quarter. Strs Ohio now owns 87,500 shares of the biotechnology company’s stock valued at $307,000 after buying an additional 63,900 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of Aldeyra Therapeutics in the 4th quarter valued at about $216,000. 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.