HC Wainwright Weighs in on Aldeyra Therapeutics, Inc’s Q2 2024 Earnings (NASDAQ:ALDX)

Aldeyra Therapeutics, Inc (NASDAQ:ALDX) – Stock analysts at HC Wainwright lifted their Q2 2024 EPS estimates for Aldeyra Therapeutics in a report released on Monday, May 6th. HC Wainwright analyst M. Caufield now expects that the biotechnology company will post earnings per share of ($0.15) for the quarter, up from their previous forecast of ($0.17). HC Wainwright currently has a “Buy” rating and a $10.00 target price on the stock. The consensus estimate for Aldeyra Therapeutics’ current full-year earnings is ($0.14) per share. HC Wainwright also issued estimates for Aldeyra Therapeutics’ Q3 2024 earnings at ($0.17) EPS, Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($0.64) EPS, FY2025 earnings at ($0.53) EPS and FY2026 earnings at ($0.23) EPS.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.13.

ALDX has been the topic of several other reports. Oppenheimer reissued an “outperform” rating and set a $10.00 price target on shares of Aldeyra Therapeutics in a research note on Monday. StockNews.com downgraded shares of Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday.

Aldeyra Therapeutics Price Performance

Shares of Aldeyra Therapeutics stock opened at $4.07 on Thursday. Aldeyra Therapeutics has a 1 year low of $1.42 and a 1 year high of $11.97. The firm has a market cap of $241.81 million, a PE ratio of -7.98 and a beta of 1.45. The company has a 50 day simple moving average of $3.72 and a two-hundred day simple moving average of $3.24.

Institutional Trading of Aldeyra Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Prime Capital Investment Advisors LLC bought a new stake in shares of Aldeyra Therapeutics during the 4th quarter valued at $35,000. SG Americas Securities LLC bought a new stake in shares of Aldeyra Therapeutics during the 4th quarter valued at $39,000. NorthRock Partners LLC bought a new stake in shares of Aldeyra Therapeutics during the 4th quarter valued at $42,000. Aigen Investment Management LP bought a new stake in shares of Aldeyra Therapeutics during the 3rd quarter valued at $80,000. Finally, Pale Fire Capital SE bought a new stake in shares of Aldeyra Therapeutics during the 3rd quarter valued at $98,000. 59.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Bruce Greenberg sold 13,201 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $3.41, for a total transaction of $45,015.41. Following the sale, the insider now owns 120,699 shares in the company, valued at approximately $411,583.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Bruce Greenberg sold 13,201 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $3.41, for a total value of $45,015.41. Following the transaction, the insider now owns 120,699 shares in the company, valued at approximately $411,583.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Perceptive Advisors Llc purchased 37,712 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was purchased at an average price of $4.74 per share, for a total transaction of $178,754.88. Following the purchase, the insider now owns 9,275,851 shares in the company, valued at $43,967,533.74. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 355,933 shares of company stock worth $1,473,245. Corporate insiders own 7.30% 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.