H.C. Wainwright slashes price target on Aldeyra Therapeutics Inc [ALDX] – find out why.

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Aldeyra Therapeutics Inc [NASDAQ: ALDX] traded at a high on 11/01/23, posting a 48.54 gain after which it closed the day’ session at $2.54. The company report on November 1, 2023 at 7:05 AM that Aldeyra Therapeutics Enters into Exclusive Option Agreement with AbbVie for License to Develop and Commercialize Reproxalap.

Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra), a biotechnology company devoted to discovering and developing innovative therapies designed to treat immune-mediated diseases, today announced that it has entered into an exclusive option agreement with AbbVie Inc. (AbbVie).

Under the terms of the option agreement, AbbVie has the option to acquire a co-exclusive license to develop, manufacture, and commercialize reproxalap in the U.S. and an exclusive license to develop, manufacture, and commercialize reproxalap outside the U.S. Aldeyra will receive a non-refundable option fee of $1 million and an upfront payment of $100 million less option fees if AbbVie chooses to exercise the option. Under the terms of the license agreement, Aldeyra would be eligible to receive up to $300 million in regulatory and commercial milestone payments, inclusive of a $100 million milestone payment upon U.S. Food and Drug Administration approval of reproxalap in dry eye disease; in the United States, Aldeyra and AbbVie would share profits and losses from the commercialization of reproxalap according to a split of 60% for AbbVie and 40% for Aldeyra; and for markets outside the U.S., Aldeyra would be eligible to receive tiered royalties on net sales of reproxalap.

The results of the trading session contributed to over 66315646 shares changing hands. Over the past one week, the price volatility of Aldeyra Therapeutics Inc stands at 16.12% while the volatility over the past one month is 13.68%.

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The market cap for ALDX stock reached $148.84 million, with 58.56 million shares outstanding and 56.29 million shares in the current float. Compared to the average trading volume of 1.09M shares, ALDX reached a trading volume of 66315646 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 $11.67 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 1.29. 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.

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The Average True Range (ATR) for Aldeyra Therapeutics Inc is set at 0.40 The Price to Book ratio for the last quarter was 1.15, with the Price to Cash per share for the same quarter was set at 2.59.

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 63.87. With this latest performance, ALDX shares dropped by -56.62% in over the last four-week period, additionally sinking by -75.05% over the last 6 months – not to mention a drop of -53.48% 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 37.32, with the RSI for the last a single of trading hit 47.52, and the three-weeks RSI is set at 33.38 for Aldeyra Therapeutics Inc [ALDX]. The present Moving Average for the last 50 days of trading for this stock 5.3200, while it was recorded at 1.7700 for the last single week of trading, and 7.6500 for the last 200 days.

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

Return on Total Capital for ALDX is now -32.25, given the latest momentum, and Return on Invested Capital for the company is -32.03. Return on Equity for this stock declined to -34.77, with Return on Assets sitting at -29.93. When it comes to the capital structure of this company, Aldeyra Therapeutics Inc [ALDX] has a Total Debt to Total Equity ratio set at 10.65. Additionally, ALDX Total Debt to Total Capital is recorded at 9.63, with Total Debt to Total Assets ending up at 8.87. Long-Term Debt to Equity for the company is recorded at 9.88, with the Long-Term Debt to Total Capital now at 8.93.

Reflecting on the efficiency of the workforce at the company, Aldeyra Therapeutics Inc [ALDX] managed to generate an average of -$4,134,976 per employee.Aldeyra Therapeutics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.79 and a Current Ratio set at 9.79.

Insider trade positions for Aldeyra Therapeutics Inc [ALDX]

The top three institutional holders of ALDX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in ALDX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in ALDX stock with ownership which is approximately 5.7994%.

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