why Aldeyra Therapeutics Inc. [ALDX] is a Good Choice for Investors After New Price Target of $19.88



Aldeyra Therapeutics Inc. [NASDAQ: ALDX] traded at a high on 07/12/22, posting a 14.99 gain after which it closed the day’ session at $5.14. The company report on July 12, 2022 that Aldeyra Therapeutics Achieves Primary Endpoints in Dry Eye Disease Chamber Crossover Clinical Trial.

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Reproxalap Statistically Superior to Vehicle for Both Primary Endpoints of Ocular Redness (P=0.0004) and Schirmer Test (P=0.0005).

Schirmer Test ≥10mm Responder Analysis Multiplicity-Controlled Secondary Endpoint Achieved (P=0.0361).

The results of the trading session contributed to over 3995206 shares changing hands. Over the past one week, the price volatility of Aldeyra Therapeutics Inc. stands at 9.16% while the volatility over the past one month is 8.46%.

The market cap for ALDX stock reached $289.64 million, with 58.30 million shares outstanding and 47.33 million shares in the current float. Compared to the average trading volume of 949.67K shares, ALDX reached a trading volume of 3995206 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Aldeyra Therapeutics Inc. [ALDX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ALDX shares is $19.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ALDX stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Aldeyra Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 27, 2022. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on February 08, 2021, representing the official price target for Aldeyra Therapeutics Inc. stock. Previously, the target price had yet another raise to $32, while Berenberg analysts kept a Buy rating on ALDX stock.

The Average True Range (ATR) for Aldeyra Therapeutics Inc. is set at 0.34 The Price to Book ratio for the last quarter was 1.57, with the Price to Cash per share for the same quarter was set at 3.85.

How has ALDX stock performed recently?

Aldeyra Therapeutics Inc. [ALDX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 27.54. With this latest performance, ALDX shares gained by 33.16% in over the last four-week period, additionally plugging by 33.51% over the last 6 months – not to mention a drop of -50.15% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ALDX stock in for the last two-week period is set at 77.78, with the RSI for the last a single of trading hit 84.48, and the three-weeks RSI is set at 71.82 for Aldeyra Therapeutics Inc. [ALDX]. The present Moving Average for the last 50 days of trading for this stock 3.27, while it was recorded at 4.52 for the last single week of trading, and 5.11 for the last 200 days.

Aldeyra Therapeutics Inc. [ALDX]: Deeper insight into the fundamentals

Aldeyra Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 13.60 and a Current Ratio set at 13.60.

Insider trade positions for Aldeyra Therapeutics Inc. [ALDX]

There are presently around $173 million, or 68.90% of ALDX stock, in the hands of institutional investors. The top three institutional holders of ALDX stocks are: PERCEPTIVE ADVISORS LLC with ownership of 9,903,879, which is approximately 0% of the company’s market cap and around 2.80% of the total institutional ownership; BLACKROCK INC., holding 3,220,511 shares of the stock with an approximate value of $14.4 million in ALDX stocks shares; and VANGUARD GROUP INC, currently with $13.24 million in ALDX stock with ownership of nearly 5.249% of the company’s market capitalization.

51 institutional holders increased their position in Aldeyra Therapeutics Inc. [NASDAQ:ALDX] by around 9,972,014 shares. Additionally, 59 investors decreased positions by around 7,888,071 shares, while 21 investors held positions by with 20,801,983 shares. The mentioned changes placed institutional holdings at 38,662,068 shares, according to the latest SEC report filing. ALDX stock had 16 new institutional investments in for a total of 2,534,583 shares, while 22 institutional investors sold positions of 1,929,174 shares during the same period.