Alcobra Ltd. (ADHD) Upgraded by Zacks Investment Research to Buy
Alcobra Ltd. (NASDAQ:ADHD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $1.25 price target on the biotechnology company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 10.63% from the company’s previous close.
According to Zacks, “Alcobra Ltd. is a biopharmaceutical company. It focuses on the development and commercialization of drugs to treat attention deficit hyperactivity disorder. Alcobra Ltd. is headquartered in Tel Aviv, Israel. “
Several other analysts have also recently commented on the stock. ValuEngine cut shares of Alcobra from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Roth Capital set a $4.00 target price on shares of Alcobra and gave the company a “buy” rating in a research report on Wednesday, May 31st. Cantor Fitzgerald reiterated a “hold” rating and set a $1.00 target price on shares of Alcobra in a research report on Tuesday, March 28th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $1.25 target price on shares of Alcobra in a research report on Friday, March 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Alcobra currently has an average rating of “Hold” and an average target price of $1.93.
Shares of Alcobra (NASDAQ:ADHD) traded down 0.0089% during trading on Tuesday, hitting $1.1299. The company had a trading volume of 39,447 shares. Alcobra has a 12-month low of $0.83 and a 12-month high of $5.36. The stock’s market cap is $31.14 million. The firm has a 50 day moving average of $1.15 and a 200 day moving average of $1.33.
Alcobra (NASDAQ:ADHD) last posted its quarterly earnings data on Tuesday, May 30th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.02. On average, analysts forecast that Alcobra will post ($0.57) earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP boosted its stake in Alcobra by 15.5% in the first quarter. Royce & Associates LP now owns 745,055 shares of the biotechnology company’s stock worth $849,000 after buying an additional 100,000 shares in the last quarter. Worth Venture Partners LLC purchased a new stake in Alcobra during the first quarter worth approximately $229,000. Finally, Citadel Advisors LLC boosted its stake in Alcobra by 7,251.0% in the first quarter. Citadel Advisors LLC now owns 100,114 shares of the biotechnology company’s stock worth $114,000 after buying an additional 101,514 shares in the last quarter. Institutional investors and hedge funds own 38.18% of the company’s stock.
Alcobra Ltd is an Israel-based Biopharmaceutical company. It focuses on the development and commercialization of a proprietary drug, MG01CI, to treat Attention Deficit Hyperactivity Disorder (ADHD), a common and morbid neuropsychiatric condition in children and adults. Adult ADHD is associated with increased health risks and healthcare costs, higher divorce rates, lower levels of socioeconomic attainment, lower academic achievement, unemployment and work place deficits, increased risks for motor vehicle accidents, greater likelihood of additional psychiatric disorders, increased criminal activity and incarceration, and higher rates of substance use and abuse.
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