Oppenheimer Holdings Inc. Lowers Alcobra Ltd. (ADHD) to Market Perform
A number of other brokerages also recently issued reports on ADHD. Jefferies Group reaffirmed a buy rating on shares of Alcobra in a research report on Thursday, August 25th. Cantor Fitzgerald reaffirmed a buy rating and set a $16.00 price target on shares of Alcobra in a research report on Thursday, September 29th. Goldman Sachs Group Inc. reaffirmed a buy rating on shares of Alcobra in a research report on Thursday, September 1st. Piper Jaffray Cos. reaffirmed an overweight rating and set a $10.00 price target on shares of Alcobra in a research report on Tuesday, August 30th. Finally, Barclays PLC initiated coverage on Alcobra in a research report on Monday, August 1st. They set an equal weight rating and a $8.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $6.47.
Alcobra (NASDAQ:ADHD) opened at 2.65 on Thursday. Alcobra has a 1-year low of $1.95 and a 1-year high of $8.78. The stock has a 50 day moving average price of $4.55 and a 200-day moving average price of $4.49. The stock’s market capitalization is $73.04 million.
Alcobra (NASDAQ:ADHD) last posted its earnings results on Tuesday, August 30th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. Equities research analysts expect that Alcobra will post ($0.94) EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Fund Advisors increased its position in Alcobra by 1.8% in the second quarter. BlackRock Fund Advisors now owns 361,130 shares of the company’s stock valued at $1,621,000 after buying an additional 6,516 shares during the last quarter. Stifel Financial Corp raised its stake in Alcobra by 34.2% in the second quarter. Stifel Financial Corp now owns 62,000 shares of the company’s stock valued at $278,000 after buying an additional 15,800 shares during the last quarter. Palo Alto Investors LLC raised its stake in Alcobra by 7.3% in the second quarter. Palo Alto Investors LLC now owns 272,788 shares of the company’s stock valued at $1,225,000 after buying an additional 18,600 shares during the last quarter. Jefferies Group LLC acquired a new stake in Alcobra during the second quarter valued at approximately $533,000. Finally, VHCP Management LLC raised its stake in Alcobra by 28.7% in the second quarter. VHCP Management LLC now owns 623,313 shares of the company’s stock valued at $2,799,000 after buying an additional 138,813 shares during the last quarter. 73.69% of the stock is currently owned by hedge funds and other institutional investors.
Alcobra Ltd is an Israel-based Biopharmaceutical company. It focuses on the development and commercialization of a proprietary drug, MG01CI, to treat Attention Deficit Hyperactivity Disorder (ADHD), a common and morbid neuropsychiatric condition in children and adults. Adult ADHD is associated with increased health risks and healthcare costs, higher divorce rates, lower levels of socioeconomic attainment, lower academic achievement, unemployment and work place deficits, increased risks for motor vehicle accidents, greater likelihood of additional psychiatric disorders, increased criminal activity and incarceration, and higher rates of substance use and abuse.
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