NeuroDerm Ltd. (NDRM) Rating Increased to Hold at Zacks Investment Research
NeuroDerm Ltd. (NASDAQ:NDRM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “Neuroderm Ltd. is a clinical-stage pharmaceutical company. It is developing next-generation treatments for central nervous system (CNS) disorders. The Company develops liquid levodopa (LD), which is a treatment for Parkinson’s disease (PD). Its product pipelines includes ND0612L for moderate PD, ND0612H for severe PD, ND0680 for severe PD, ND0701 for severe PD and ND0801for Cognitive Disorders. NeuroDerm Ltd. is headquartered in Rehovot, Israel. “
Several other analysts have also issued reports on NDRM. Jefferies Group LLC restated a “buy” rating and issued a $42.00 price objective on shares of NeuroDerm in a report on Monday, August 14th. Roth Capital lowered shares of NeuroDerm from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $33.00 to $39.00 in a report on Wednesday, August 2nd. BidaskClub upgraded shares of NeuroDerm from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Raymond James Financial, Inc. lowered shares of NeuroDerm from an “outperform” rating to a “market perform” rating and set a $39.00 price objective on the stock. in a report on Monday, July 24th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of NeuroDerm in a report on Sunday, April 23rd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $44.13.
NeuroDerm (NASDAQ NDRM) remained flat at $38.55 on Friday. The stock had a trading volume of 618,671 shares. The company’s market cap is $1.02 billion. The stock has a 50-day moving average price of $34.97 and a 200 day moving average price of $28.06. NeuroDerm has a 52 week low of $15.20 and a 52 week high of $38.85.
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A number of hedge funds have recently modified their holdings of the company. Menora Mivtachim Holdings LTD. raised its stake in shares of NeuroDerm by 18.6% in the second quarter. Menora Mivtachim Holdings LTD. now owns 808,073 shares of the biotechnology company’s stock worth $24,161,000 after buying an additional 126,517 shares during the period. Wells Fargo & Company MN raised its stake in shares of NeuroDerm by 55,181.2% in the second quarter. Wells Fargo & Company MN now owns 373,148 shares of the biotechnology company’s stock worth $11,157,000 after buying an additional 372,473 shares during the period. Senzar Asset Management LLC raised its stake in shares of NeuroDerm by 10.4% in the second quarter. Senzar Asset Management LLC now owns 357,400 shares of the biotechnology company’s stock worth $10,686,000 after buying an additional 33,700 shares during the period. Nexthera Capital LP raised its stake in shares of NeuroDerm by 13.6% in the second quarter. Nexthera Capital LP now owns 327,240 shares of the biotechnology company’s stock worth $9,784,000 after buying an additional 39,240 shares during the period. Finally, OppenheimerFunds Inc. acquired a new stake in shares of NeuroDerm during the first quarter worth about $7,588,000. Institutional investors own 53.22% of the company’s stock.
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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