Aldeyra Therapeutics (ALDX) Gets a Buy Rating from JonesTrading

JonesTrading analyst Matthew Cross maintained a Buy rating on Aldeyra Therapeutics (ALDXResearch Report) today and set a price target of $34.00. The company’s shares closed last Thursday at $4.79.

According to TipRanks.com, Cross is a 4-star analyst with an average return of 10.9% and a 38.8% success rate. Cross covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Syros Pharmaceuticals, and Catalyst Biosciences.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Aldeyra Therapeutics with a $26.00 average price target, implying a 409.8% upside from current levels. In a report issued on May 20, Oppenheimer also assigned a Buy rating to the stock with a $12.00 price target.

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Based on Aldeyra Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $9.87 million. In comparison, last year the company had a GAAP net loss of $15.62 million.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ALDX in relation to earlier this year.

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Aldeyra Therapeutics, Inc. operates as a biotechnology company. It primarily focuses on the development of new products for immune-mediated, inflammatory, orphan and other diseases that are thought to be caused in part by naturally occurring toxic chemical species known as free aldehydes. The company was founded by Thomas A. Jordan and John E. Dowling on August 13, 2004 and is headquartered in Lexington, MA.