Biodel Inc. to Post FY2017 Earnings of ($3.33) Per Share, Wedbush Forecasts (ALBO)
Biodel Inc. (NASDAQ:ALBO) – Equities researchers at Wedbush increased their FY2017 earnings per share (EPS) estimates for shares of Biodel in a research note issued to investors on Thursday. Wedbush analyst L. Moussatos now anticipates that the biopharmaceutical company will earn ($3.33) per share for the year, up from their prior forecast of ($3.38). Wedbush currently has a “Outperform” rating and a $58.00 target price on the stock. Wedbush also issued estimates for Biodel’s Q4 2017 earnings at ($0.75) EPS, Q2 2018 earnings at ($0.75) EPS, Q3 2018 earnings at ($0.76) EPS, Q4 2018 earnings at ($0.76) EPS, FY2018 earnings at ($3.05) EPS, FY2019 earnings at ($3.05) EPS and FY2021 earnings at ($0.65) EPS.
A number of other equities research analysts also recently weighed in on ALBO. Cowen began coverage on shares of Biodel in a research report on Wednesday, August 16th. They issued an “outperform” rating for the company. ValuEngine cut shares of Biodel from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Needham & Company LLC reissued a “buy” rating on shares of Biodel in a research note on Thursday, October 26th. Zacks Investment Research raised shares of Biodel from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday, October 25th. Finally, Roth Capital started coverage on shares of Biodel in a research note on Wednesday, November 15th. They issued a “buy” rating and a $92.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. Biodel presently has an average rating of “Buy” and a consensus price target of $53.75.
In related news, major shareholder Plc Astrazeneca sold 500,000 shares of Biodel stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $21.40, for a total value of $10,700,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 22.30% of the company’s stock.
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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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