What is Leerink Partnrs' Forecast for ALDX FY2024 Earnings?

Aldeyra Therapeutics, Inc (NASDAQ:ALDX - Free Report) - Investment analysts at Leerink Partnrs dropped their FY2024 earnings per share estimates for Aldeyra Therapeutics in a research note issued to investors on Wednesday, November 13th. Leerink Partnrs analyst M. Goodman now anticipates that the biotechnology company will earn ($0.95) per share for the year, down from their previous forecast of $0.70. The consensus estimate for Aldeyra Therapeutics' current full-year earnings is ($0.89) per share. Leerink Partnrs also issued estimates for Aldeyra Therapeutics' Q4 2024 earnings at ($0.28) EPS, FY2025 earnings at $2.00 EPS and FY2026 earnings at ($0.05) EPS.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last announced its earnings results on Thursday, November 7th. The biotechnology company reported ($0.25) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.25).

Separately, HC Wainwright restated a "buy" rating and set a $10.00 price target on shares of Aldeyra Therapeutics in a research note on Friday, August 9th.

Aldeyra Therapeutics Stock Up 11.6 %

Shares of Aldeyra Therapeutics stock traded up $0.49 during midday trading on Monday, hitting $4.70. The company had a trading volume of 2,084,777 shares, compared to its average volume of 497,906. The company has a 50 day moving average of $5.45 and a 200 day moving average of $4.60. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.80 and a current ratio of 6.80. Aldeyra Therapeutics has a 52-week low of $2.43 and a 52-week high of $6.55.

Hedge Funds Weigh In On Aldeyra Therapeutics

Several hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its holdings in shares of Aldeyra Therapeutics by 23.4% in the first quarter. BNP Paribas Financial Markets now owns 25,278 shares of the biotechnology company's stock worth $83,000 after purchasing an additional 4,797 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Aldeyra Therapeutics by 106.3% in the first quarter. Acadian Asset Management LLC now owns 452,449 shares of the biotechnology company's stock valued at $1,478,000 after acquiring an additional 233,169 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Aldeyra Therapeutics by 7.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 48,273 shares of the biotechnology company's stock worth $158,000 after acquiring an additional 3,446 shares during the period. Kennedy Capital Management LLC lifted its stake in Aldeyra Therapeutics by 3.3% in the first quarter. Kennedy Capital Management LLC now owns 1,318,155 shares of the biotechnology company's stock worth $4,310,000 after acquiring an additional 42,009 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Aldeyra Therapeutics during the 1st quarter worth about $585,000. 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.