Analysts Set Biodel Inc. (ALBO) Price Target at $46.50
Shares of Biodel Inc. (NASDAQ:ALBO) have been given an average recommendation of “Buy” by the seven analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $46.50.
ALBO has been the subject of several research reports. Needham & Company LLC initiated coverage on Biodel in a research note on Tuesday, July 18th. They issued a “buy” rating and a $35.00 target price for the company. Zacks Investment Research raised Biodel from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Tuesday, July 11th. Wedbush reaffirmed an “outperform” rating and issued a $58.00 target price on shares of Biodel in a research note on Monday, September 11th. Cowen and Company initiated coverage on Biodel in a research note on Wednesday, August 16th. They issued an “outperform” rating for the company. Finally, ValuEngine lowered Biodel from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd.
An institutional investor recently raised its position in Biodel stock. Renaissance Technologies LLC boosted its position in Biodel Inc. (NASDAQ:ALBO) by 0.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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.
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Shares of Biodel (NASDAQ ALBO) traded down 1.33% during midday trading on Thursday, reaching $22.21. 16,926 shares of the company’s stock were exchanged. Biodel has a 12 month low of $13.86 and a 12 month high of $37.69. The firm has a 50 day moving average price of $22.94 and a 200 day moving average price of $22.22. The company’s market cap is $197.27 million.
Biodel (NASDAQ:ALBO) last issued its earnings results on Monday, August 21st. The biopharmaceutical company reported ($0.86) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.84) by ($0.02). Equities research analysts forecast that Biodel will post ($3.64) earnings per share for the current fiscal 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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