Aldeyra Therapeutics (ALDX) Receives a Buy from Oppenheimer

In a report released today, Justin Kim from Oppenheimer assigned a Buy rating to Aldeyra Therapeutics (ALDXResearch Report), with a price target of $12.00. The company’s shares closed last Wednesday at $4.26.

Kim has an average return of 29.7% when recommending Aldeyra Therapeutics.

According to TipRanks.com, Kim is ranked #538 out of 6589 analysts.

Aldeyra Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $23.00, a 398.9% upside from current levels. In a report issued on May 8, JonesTrading also maintained a Buy rating on the stock with a $34.00 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.