Biotech Stock Surges on Eye Treatment Study

The stock just notched a fresh two-year high

Deputy Editor
Jun 15, 2023 at 11:31 AM
facebook X logo linkedin

Aldeyra Therapeutics Inc (NASDAQ:ALDX) is up 14.1% at $11.93 at last glance, after the biotech's allergy treatment in the form of liquid eye drops, reproxalap, met its goal in a late-stage study. The security earlier notched a fresh two-year high of $11.97, and is up 71.4% year-to-date. 

The stock's typically quiet options pits are seeing triple the usual volume today, with 1,032 calls and 541 puts exchanged. The June 10 put is the most active contract, followed by the June 12.50 call. 

All five analysts in coverage carry a "strong buy" rating on ALDX. The stock's price target is already quite bullish as well, sitting at $20.13 -- a 70.2% premium to current levels. It's also worth noting, however, that short interest makes up 7.3% of the stock's available float. 

Despite calls outnumbering puts on an absolute basis, the stock's 10-day put/call volume ratio of 0.46 over at the International Securities Exchange .(ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is in the 93rd percentile of its annual range. In other words, this suggests a very healthy appetite for long puts of late.



Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI