Biodel Inc. (ALBO) Given Consensus Recommendation of “Buy” by Analysts
Biodel Inc. (NASDAQ:ALBO) has been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $35.00.
ALBO has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Biodel from a “sell” rating to a “hold” rating in a report on Wednesday, April 26th. Wedbush initiated coverage on shares of Biodel in a report on Friday, June 30th. They set an “outperform” rating for the company. Needham & Company LLC initiated coverage on shares of Biodel in a report on Tuesday, July 18th. They set a “buy” rating and a $35.00 price target for the company. Finally, Cowen and Company initiated coverage on shares of Biodel in a report on Wednesday. They set an “outperform” rating for the company.
A hedge fund recently raised its stake in Biodel stock. Renaissance Technologies LLC boosted its position in shares of Biodel Inc. (NASDAQ:ALBO) by 0.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 149,632 shares of the biopharmaceutical company’s stock after buying an additional 794 shares during the period. Renaissance Technologies LLC’s holdings in Biodel were worth $3,591,000 at the end of the most recent reporting period. 12.33% of the stock is owned by hedge funds and other institutional investors.
Shares of Biodel (NASDAQ ALBO) traded up 2.543% during mid-day trading on Wednesday, hitting $21.975. The stock had a trading volume of 6,023 shares. Biodel has a one year low of $11.40 and a one year high of $37.69. The firm’s 50 day moving average price is $23.92 and its 200-day moving average price is $22.18. The company’s market cap is $138.27 million.
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Biodel Inc is a specialty biopharmaceutical company. The Company focuses on the development and commercialization of treatments for diabetes. The Company is engaged in developing product candidates by applying its formulation technologies to existing drugs. The Company is engaged in developing room temperature stable glucagon presentations for use as a rescue treatment for diabetes patients experiencing severe hypoglycemia.
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