Aldeyra Therapeutics Inc (ALDX) shares projected to rise by 244.91%

At the time of writing, Aldeyra Therapeutics Inc [ALDX] stock is trading at $2.85, up 14.46%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The ALDX shares have gain 24.73% over the last week, with a monthly amount glided 71.69%, and seem to be holding up well over a long-time horizon.

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On 1, November 2023, Aldeyra Therapeutics Enters into Exclusive Option Agreement with AbbVie for License to Develop and Commercialize Reproxalap. In a post published today on Yahoo Finance, 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).

From an analyst’s perspective:

For the past year, the stock price of Aldeyra Therapeutics Inc fluctuated between $1.42 and $11.97. Currently, Wall Street analysts expect the stock to reach $9.83 within the next 12 months. Aldeyra Therapeutics Inc [NASDAQ: ALDX] shares were valued at $2.85 at the most recent close of the market. An investor can expect a potential return of 244.91% based on the average ALDX price forecast.

Analyzing the ALDX fundamentals

To continue investigating profitability, this company’s Return on Assets is posted at -29.93, Equity is -34.77, Total Capital is -32.25, and Invested Capital is -32.03. An extended look at the Principal structure reveals enduring liabilities to the total capital of 9.63 and enduring liabilities to assets of 8.87.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 2.58 points at the first support level, and at 2.31 for the second support level. However, for the 1st resistance point, the stock is sitting at 3.03, and for the 2nd resistance point, it is at 3.20.

Aldeyra Therapeutics Inc [ALDX] reported earnings per share of -$0.14 for its fiscal quarter that ended on 9/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.24/share, meaning a difference of $0.1 and a surprise factor of 41.70%. By comparison, the stated earnings for the previous quarter ended on 6/29/2023 were -$0.15 per share as compared to estimates of -$0.31 per share, a difference of $0.16 representing a surprise of 51.60%.

Ratios To Look Out For

It is important to note that Aldeyra Therapeutics Inc [NASDAQ:ALDX] has a current ratio of 6.67. Further, the Quick Ratio stands at 11.62, while the Cash Ratio is 11.35.

Transactions by insiders

Insider trading, which has resulted in 5 insider purchases of 288,099 shares and 1 insider sales of 73,807 shares in the past three months, is now the topic of our analysis. Recent insider trading involved PERCEPTIVE ADVISORS LLC, 10% Owner, that happened on Oct 18 when 0.31 million shares were sold. 10% Owner, PERCEPTIVE ADVISORS LLC completed a deal on Oct 16 to sell 2.45 million shares.