Alcobra Ltd. (ADHD) Lowered to “Hold” at Zacks Investment Research
Alcobra Ltd. (NASDAQ:ADHD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Alcobra Ltd. is a biopharmaceutical company. It focuses on the development and commercialization of drugs to treat attention deficit hyperactivity disorder. Alcobra Ltd. is headquartered in Tel Aviv, Israel. “
A number of other brokerages have also commented on ADHD. WBB Securities upgraded shares of Alcobra from a “hold” rating to a “buy” rating and set a $2.00 price target for the company in a research note on Monday. Roth Capital lowered shares of Alcobra from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $4.00 to $1.00 in a research note on Friday, September 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $1.56.
Alcobra (NASDAQ:ADHD) traded up 0.459% during midday trading on Wednesday, reaching $1.095. 588,015 shares of the company’s stock traded hands. The company’s 50-day moving average price is $1.06 and its 200-day moving average price is $1.11. The stock’s market cap is $30.18 million. Alcobra has a 52-week low of $0.83 and a 52-week high of $2.68.
Alcobra (NASDAQ:ADHD) last announced its quarterly earnings results on Friday, August 11th. The biotechnology company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. On average, equities analysts predict that Alcobra will post ($0.77) EPS for the current fiscal year.
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Institutional investors and hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC boosted its holdings in shares of Alcobra by 7,251.0% in the first quarter. Citadel Advisors LLC now owns 100,114 shares of the biotechnology company’s stock worth $114,000 after buying an additional 101,514 shares during the last quarter. Worth Venture Partners LLC boosted its holdings in shares of Alcobra by 35.6% in the second quarter. Worth Venture Partners LLC now owns 271,982 shares of the biotechnology company’s stock worth $305,000 after buying an additional 71,465 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in shares of Alcobra by 15.5% in the first quarter. Royce & Associates LP now owns 745,055 shares of the biotechnology company’s stock worth $849,000 after buying an additional 100,000 shares during the last quarter. 29.68% of the stock is currently owned by institutional investors.
Alcobra Ltd is a development-stage biopharmaceutical company. The Company is focused on development and commercialization of its lead product candidates, including MDX and ADAIR. MDX is a oral drug, for the treatment of ADHD and other cognitive disorders, including Fragile X. MDX is a combined rapid onset ER formulation of the chemical pyridoxine pyroglutamate, which is more commonly known as metadoxine.
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