Aldeyra Therapeutics (NASDAQ:ALDX) Price Target Cut to $9.00 by Analysts at BTIG Research

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) had its price target reduced by stock analysts at BTIG Research from $11.00 to $9.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the biotechnology company's stock. BTIG Research's price objective would suggest a potential upside of 371.20% from the stock's current price.

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

Aldeyra Therapeutics Stock Performance

Shares of ALDX traded up $0.02 during trading hours on Monday, hitting $1.91. The company had a trading volume of 1,717,870 shares, compared to its average volume of 680,193. 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 has a one year low of $1.14 and a one year high of $7.20. The company's fifty day moving average price is $5.54 and its two-hundred day moving average price is $5.26.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last announced its earnings results on Thursday, March 6th. The biotechnology company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.30). Equities research analysts expect that Aldeyra Therapeutics will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at Aldeyra Therapeutics

In other news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the insider now directly owns 5,875,851 shares in the company, valued at $8,343,708.42. This trade represents a 36.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aldeyra Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in shares of Aldeyra Therapeutics in the 4th quarter valued at $3,628,000. ADAR1 Capital Management LLC boosted its holdings in Aldeyra Therapeutics by 114.4% in the fourth quarter. ADAR1 Capital Management LLC now owns 647,960 shares of the biotechnology company's stock valued at $3,233,000 after purchasing an additional 345,748 shares during the last quarter. 683 Capital Management LLC acquired a new stake in Aldeyra Therapeutics during the 4th quarter worth about $1,447,000. Millennium Management LLC acquired a new position in shares of Aldeyra Therapeutics in the 4th quarter valued at about $808,000. Finally, Kennondale Capital Management LLC purchased a new stake in shares of Aldeyra Therapeutics in the fourth quarter worth about $755,000. Institutional investors and hedge funds own 59.71% of the company's stock.

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.