Laidlaw Keeps a Buy Rating on Aldeyra Therapeutics (ALDX)

By George MacDonald

Laidlaw analyst Yale Jen reiterated a Buy rating on Aldeyra Therapeutics (NASDAQ: ALDX) on May 7 and set a price target of $30.00. The company’s shares closed last Tuesday at $4.11.

Aldeyra Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $24.67, representing a 460.7% upside. In a report issued on May 11, Oppenheimer also initiated coverage with a Buy rating on the stock with a $12.00 price target.

According to TipRanks.com, Jen is ranked #4902 out of 6619 analysts.

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.

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.