BTIG Research Issues Pessimistic Forecast for Aldeyra Therapeutics (NASDAQ:ALDX) Stock Price

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

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

Aldeyra Therapeutics Stock Down 1.5 %

Shares of ALDX stock opened at $1.92 on Monday. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.18. Aldeyra Therapeutics has a 52-week low of $1.14 and a 52-week high of $7.20. The firm’s 50 day moving average price is $5.81 and its two-hundred day moving average price is $5.36.

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

Insider Buying and Selling

In related news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of Aldeyra Therapeutics stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $1.42, for a total value of $4,828,000.00. Following the sale, the insider now owns 5,875,851 shares of the company’s stock, valued at approximately $8,343,708.42. This trade represents a 36.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Institutional Trading of Aldeyra Therapeutics

Institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC bought a new position in shares of Aldeyra Therapeutics in the 4th quarter valued at about $52,000. Balyasny Asset Management L.P. bought a new position in Aldeyra Therapeutics during the fourth quarter worth $56,000. Catalyst Funds Management Pty Ltd grew its stake 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 valued at $65,000 after buying an additional 12,500 shares during the last quarter. Regal Investment Advisors LLC acquired a new position in shares of Aldeyra Therapeutics in the fourth quarter valued at approximately $66,000. Finally, Walleye Capital LLC bought a new position in Aldeyra Therapeutics during the 4th quarter worth $68,000. Institutional investors 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.