Biodel Inc. (NASDAQ:ALBO) has received an average rating of “Buy” from the six brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $35.00.

A number of analysts have recently commented on the company. Wedbush assumed coverage on Biodel in a research report on Friday, June 30th. They issued an “outperform” rating for the company. Zacks Investment Research upgraded Biodel from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Tuesday, July 11th. Cowen and Company assumed coverage on Biodel in a research report on Wednesday, August 16th. They issued an “outperform” rating for the company. Finally, Needham & Company LLC assumed coverage on Biodel in a research report on Tuesday, July 18th. They issued a “buy” rating and a $35.00 price objective for the company.

A hedge fund recently raised its stake in Biodel stock. Renaissance Technologies LLC increased its position in shares of Biodel Inc. (NASDAQ:ALBO) by 0.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 149,632 shares of the biopharmaceutical company’s stock after purchasing an additional 794 shares during the quarter. Renaissance Technologies LLC’s holdings in Biodel were worth $3,591,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 27.36% of the company’s stock.

Shares of Biodel (NASDAQ ALBO) opened at 23.20 on Friday. The firm’s 50-day moving average is $23.96 and its 200-day moving average is $22.60. The stock’s market capitalization is $206.06 million. Biodel has a one year low of $11.70 and a one year high of $37.69.

Biodel (NASDAQ:ALBO) last posted its quarterly earnings data on Monday, August 21st. The biopharmaceutical company reported ($0.86) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.84) by $0.02. Equities research analysts forecast that Biodel will post ($3.70) EPS for the current year.

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About Biodel

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.

Analyst Recommendations for Biodel (NASDAQ:ALBO)

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