According to a report released on Friday by The Fly, analysts working for Citigroup raised their target price for Aldeyra Therapeutics (NASDAQ: ALDX), moving it up from $23.00 to $28.00.
The previous target price for Aldeyra Therapeutics was $23.00. From where it is currently trading, Citigroup has projected that the stock’s price objective will reach a 254.43% higher than it is currently trading.
When trading started on Friday, an individual share of ALDX was $7.90.
The debt-to-equity ratio is currently at zero; the current ratio is 7.83, and the quick ratio is also 7.83.
The debt-to-equity ratio currently stands at zero, the current ratio is 7.83, and the quick ratio is 7.83.
The company has a price-to-earnings ratio of -7.12 and is valued at $462.62 million.
Its beta version is 1.07, with a market capitalization of $462.62 million. Over the past year, the cost of Aldeyra Therapeutics has fluctuated wildly, reaching an all-time low of $2.36 and an all-time high of $7.99.
The stock’s moving average over the past 50 days is $6.65; over the past 200 days, it has been trading at $6.18.
Recent events have resulted in ALDX receiving feedback from additional stock research professionals. Regarding Aldeyra Therapeutics, StockNews.com recommended to its audience on Monday, November 14th, that they keep their “hold” position despite publishing a new report. HC Wainwright reaffirmed their “buy” rating on shares of Aldeyra Therapeutics and set a target price of $15.00 for the company’s stock in a research note published on March 1st.
The research note also included a price target of $15.00.
Recent months have seen several institutional investors and hedge funds adjust the stock holdings contained within their respective investment portfolios.
The increase in holdings that Perceptive Advisors LLC made during the third quarter resulted in Aldeyra Therapeutics receiving 14.6% of that increase.
Perceptive Advisors LLC now holds 11,350,085 shares of the biotechnology company’s stock, which have a value of $60,609,000 thanks to the purchase of an additional 1,446,206 shares during the most recent quarter.
This brings the total number of shares held by the firm to 11,350,085. Vanguard Group INC increased the amount of Aldeyra Therapeutics stock owned by 5.2% during the first three months of 2018. Vanguard Group INC now has 2,961,635 shares of the biotechnology company’s stock, worth $13,165,000, after purchasing 147,711 shares during the relevant period.
In the third quarter, Verition Fund Management LLC made a 26.4% increase in the amount of Aldeyra Therapeutics stock it owned, bringing its total percentage to 100%. Verition Fund Management LLC now has 2,402,239 shares of the biotechnology company’s stock, worth $12,828,000, after making an additional purchase of 501,048 shares during the period in question.
In the second quarter, Prosight Management LP made a 41.8% increase in the amount of Aldeyra Therapeutics stock it owned, bringing its total percentage of ownership to 100%.
Prosight Management LP now has 1,985,883 shares of the biotechnology company’s stock, valued at $7,924,000, after purchasing an additional 585,644 shares during the period in question.
These shares were acquired for a total cost of $585,644,000.
Last but not least, during the third quarter, Knoll Capital Management LLC achieved a 24.9% increase in its ownership stake in Aldeyra Therapeutics. Following acquiring 374,845 of the biotechnology company’s shares during the relevant period, Knoll Capital Management LLC now holds 1,877,305 shares.
The value of these shares on the market currently is $10,025,000.
Most of the company’s stock is owned by institutional investors and hedge funds, which account for 63.11% of the company’s total shares.
Aldeyra Therapeutics is a biotechnology company dedicated to developing innovative treatments for patients suffering from immune-mediated illnesses.
The company is currently in the testing phase of its research and development.
These treatments might make patients’ lives a little bit easier overall, which is a good thing. Reproxalap and ADX-629, two of the company’s lead compounds, are aimed at reactive aldehyde species (RASP), which are increased in ocular and systemic inflammatory illnesses.
The RASP is the patients the company’s drugs intend to treat. RASP is to blame for increased cytokine production because they activate various inflammatory factors, such as NF-B, inflammasomes, and Scavenger Receptor A.
This causes RASP to be responsible for increased cytokine production.
Source: beststocks.com
