NeuroDerm Ltd. (NASDAQ:NDRM) Rating Reiterated by Jefferies Group LLC
NeuroDerm Ltd. (NASDAQ:NDRM)‘s stock had its “buy” rating reissued by equities researchers at Jefferies Group LLC in a research note issued on Monday. They currently have a $42.00 target price on the biotechnology company’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 8.81% from the company’s current price.
NDRM has been the topic of several other research reports. Oppenheimer Holdings, Inc. raised shares of NeuroDerm from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Wednesday, June 14th. Deutsche Bank AG started coverage on shares of NeuroDerm in a research report on Friday, July 21st. They set a “buy” rating and a $47.00 target price on the stock. Roth Capital set a $33.00 target price on shares of NeuroDerm and gave the stock a “buy” rating in a research report on Wednesday, June 14th. Zacks Investment Research downgraded shares of NeuroDerm from a “hold” rating to a “sell” rating in a research report on Saturday, July 15th. Finally, CIBC raised shares of NeuroDerm from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. NeuroDerm presently has an average rating of “Hold” and a consensus price target of $44.13.
NeuroDerm (NDRM) opened at 38.60 on Monday. The firm’s market cap is $1.02 billion. The firm’s 50-day moving average price is $33.65 and its 200-day moving average price is $27.49. NeuroDerm has a 1-year low of $15.20 and a 1-year high of $38.85.
NeuroDerm (NASDAQ:NDRM) last released its earnings results on Thursday, May 11th. The biotechnology company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.13. Equities research analysts anticipate that NeuroDerm will post ($2.03) earnings per share for the current fiscal year.
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Several hedge funds have recently added to or reduced their stakes in NDRM. Van ECK Associates Corp increased its stake in NeuroDerm by 11.0% in the second quarter. Van ECK Associates Corp now owns 4,723 shares of the biotechnology company’s stock valued at $141,000 after buying an additional 468 shares during the period. Vanguard Group Inc. acquired a new stake in NeuroDerm during the second quarter valued at approximately $210,000. Oppenheimer & Co. Inc. acquired a new stake in NeuroDerm during the first quarter valued at approximately $223,000. Nationwide Fund Advisors acquired a new stake in NeuroDerm during the first quarter valued at approximately $226,000. Finally, HighTower Advisors LLC acquired a new stake in NeuroDerm during the first quarter valued at approximately $242,000. 53.22% of the stock is currently owned by institutional investors and hedge funds.
NeuroDerm Ltd. is an Israel-based clinical-stage pharmaceutical company. The Company is engaged in developing treatments for central nervous system (CNS) disorders, primarily Parkinson’s disease, as well as other CNS diseases. The Company’s Parkinson’s disease product candidates are drug-device combination products, with devices and varying levodopa (LD)/carbidopa (CD) or apomorphine concentrations and dosages.
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