Biodel Inc. (ALBO) Given Average Rating of “Buy” by Brokerages
Biodel Inc. (NASDAQ:ALBO) has received a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $46.50.
ALBO has been the topic of a number of analyst reports. Zacks Investment Research upgraded Biodel from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Tuesday, July 11th. Wedbush initiated coverage on Biodel in a report on Friday, June 30th. They set an “outperform” rating on the stock. Needham & Company LLC initiated coverage on Biodel in a report on Tuesday, July 18th. They set a “buy” rating and a $35.00 price objective on the stock. Cowen and Company initiated coverage on Biodel in a report on Wednesday, August 16th. They set an “outperform” rating on the stock. Finally, ValuEngine cut Biodel from a “hold” rating to a “sell” rating in a report on Monday.
A hedge fund recently raised its stake in Biodel stock. Renaissance Technologies LLC raised its stake in Biodel Inc. (NASDAQ:ALBO) by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter. Institutional investors and hedge funds own 27.36% of the company’s stock.
Biodel (ALBO) opened at 21.56 on Thursday. Biodel has a 12 month low of $13.80 and a 12 month high of $37.69. The company’s 50-day moving average price is $22.99 and its 200-day moving average price is $22.22. The stock’s market cap is $191.50 million.
Biodel (NASDAQ:ALBO) last announced its earnings results on Monday, August 21st. The biopharmaceutical company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.02). Equities analysts forecast that Biodel will post ($3.64) earnings per share for the current year.
Biodel Company Profile
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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