Equities researchers at Needham & Company LLC assumed coverage on shares of Biodel Inc. (NASDAQ:ALBO) in a research report issued to clients and investors on Tuesday. The brokerage set a “buy” rating and a $35.00 price target on the biopharmaceutical company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 27.97% from the company’s current price.

A number of other brokerages have also weighed in on ALBO. Zacks Investment Research upgraded shares of Biodel from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Tuesday, July 11th. Wedbush started coverage on shares of Biodel in a report on Friday, June 30th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of $31.50.

Shares of Biodel (NASDAQ:ALBO) opened at 27.35 on Tuesday. Biodel has a 52-week low of $9.90 and a 52-week high of $37.69. The stock’s market cap is $172.09 million. The stock’s 50 day moving average is $21.13 and its 200 day moving average is $21.50.

Biodel (NASDAQ:ALBO) last announced its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($1.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.10) by $0.04. On average, equities analysts expect that Biodel will post ($3.77) earnings per share for the current fiscal year.

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An institutional investor recently raised its position in Biodel stock. Renaissance Technologies LLC raised its position in shares of Biodel Inc. (NASDAQ:ALBO) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 149,632 shares of the biopharmaceutical company’s stock after buying an additional 794 shares during the period. Renaissance Technologies LLC’s holdings in Biodel were worth $3,591,000 at the end of the most recent quarter. Institutional investors own 12.35% of the company’s stock.

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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