Aldeyra Therapeutics (ALDX) Receives a Buy from Oppenheimer

Aldeyra Therapeutics (ALDXResearch Report) received a Buy rating and a $12.00 price target from Oppenheimer analyst Justin Kim today. The company’s shares closed last Monday at $2.96.

According to TipRanks.com, Kim is ranked #471 out of 6559 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Aldeyra Therapeutics with a $34.00 average price target, which is a 1093.0% 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 December 31, the company reported a quarterly GAAP net loss of $13.16 million. In comparison, last year the company had a GAAP net loss of $10.63 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.