BTIG Research Has Lowered Expectations for Aldeyra Therapeutics (NASDAQ:ALDX) Stock Price

Aldeyra Therapeutics (NASDAQ:ALDX) had its price target lowered by analysts at BTIG Research from $11.00 to $9.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. BTIG Research’s target price would indicate a potential upside of 368.75% from the stock’s previous close.

Separately, HC Wainwright restated a “buy” rating and set a $10.00 price target on shares of Aldeyra Therapeutics in a report on Friday, April 4th.

Aldeyra Therapeutics Price Performance

NASDAQ ALDX opened at $1.92 on Monday. The firm’s 50 day moving average price is $5.81 and its two-hundred day moving average price is $5.36. Aldeyra Therapeutics has a twelve month low of $1.14 and a twelve month high of $7.20. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.18.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.30). As a group, sell-side analysts forecast that Aldeyra Therapeutics will post -0.92 earnings per share for the current year.

Insider Activity at Aldeyra Therapeutics

In other news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the firm’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $1.42, for a total transaction of $4,828,000.00. Following the transaction, the insider now owns 5,875,851 shares in the company, valued at approximately $8,343,708.42. This trade represents a 36.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Aldeyra Therapeutics

A number of large investors have recently bought and sold shares of the business. Hsbc Holdings PLC acquired a new stake in shares of Aldeyra Therapeutics in the fourth quarter worth about $52,000. Balyasny Asset Management L.P. bought a new position in shares of Aldeyra Therapeutics in the 4th quarter valued at approximately $56,000. Catalyst Funds Management Pty Ltd lifted its holdings in Aldeyra Therapeutics by 2,083.3% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 13,100 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 12,500 shares during the last quarter. Regal Investment Advisors LLC bought a new stake in Aldeyra Therapeutics during the fourth quarter worth approximately $66,000. Finally, Walleye Capital LLC bought a new stake in shares of Aldeyra Therapeutics during the 4th quarter worth $68,000. 59.71% of the stock is currently owned by institutional investors.

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.