Aldeyra Therapeutics, Inc (NASDAQ:ALDX) to Post Q2 2024 Earnings of ($0.15) Per Share, HC Wainwright Forecasts

Aldeyra Therapeutics, Inc (NASDAQ:ALDX) – Stock analysts at HC Wainwright lifted their Q2 2024 earnings per share estimates for shares of Aldeyra Therapeutics in a research report issued on Monday, May 6th. HC Wainwright analyst M. Caufield now forecasts that the biotechnology company will post earnings per share of ($0.15) for the quarter, up from their prior forecast of ($0.17). HC Wainwright currently has a “Buy” rating and a $10.00 price objective 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.

Other analysts also recently issued reports about the company. StockNews.com downgraded Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday. Oppenheimer reissued an “outperform” rating and set a $10.00 price objective on shares of Aldeyra Therapeutics in a research report on Monday.

Aldeyra Therapeutics Trading Down 3.2 %

Shares of NASDAQ:ALDX opened at $3.94 on Thursday. The business has a 50-day moving average price of $3.73 and a 200 day moving average price of $3.24. The company has a market capitalization of $234.09 million, a price-to-earnings ratio of -7.73 and a beta of 1.45. Aldeyra Therapeutics has a 12-month low of $1.42 and a 12-month high of $11.97.

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

Insider Activity at Aldeyra Therapeutics

In other news, major shareholder Perceptive Advisors Llc bought 8,374 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was bought at an average cost of $3.25 per share, for a total transaction of $27,215.50. Following the acquisition, the insider now directly owns 8,601,960 shares of the company’s stock, valued at approximately $27,956,370. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Bruce Greenberg sold 13,201 shares of Aldeyra Therapeutics stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $3.41, for a total value of $45,015.41. Following the completion of 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 Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Perceptive Advisors Llc acquired 8,374 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was bought at an average price of $3.25 per share, with a total value of $27,215.50. Following the purchase, the insider now directly owns 8,601,960 shares in the company, valued at approximately $27,956,370. The disclosure for this purchase can be found here. Insiders bought 355,933 shares of company stock worth $1,473,245 in the last three months. 7.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aldeyra Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ALDX. BNP Paribas Financial Markets boosted its holdings in Aldeyra Therapeutics by 23.4% in the first quarter. BNP Paribas Financial Markets now owns 25,278 shares of the biotechnology company’s stock valued at $83,000 after purchasing an additional 4,797 shares in the last quarter. Denali Advisors LLC acquired a new position in Aldeyra Therapeutics in the first quarter valued at approximately $155,000. Kingswood Wealth Advisors LLC acquired a new position in Aldeyra Therapeutics in the first quarter valued at approximately $49,000. Woodstock Corp boosted its holdings in Aldeyra Therapeutics by 46.3% in the first quarter. Woodstock Corp now owns 170,715 shares of the biotechnology company’s stock valued at $558,000 after purchasing an additional 54,011 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in Aldeyra Therapeutics by 240.9% in the first quarter. Los Angeles Capital Management LLC now owns 380,773 shares of the biotechnology company’s stock valued at $1,245,000 after purchasing an additional 269,061 shares in the last quarter. Hedge funds and other institutional investors 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.