Alcobra Ltd. (ADHD) Downgraded by Oppenheimer Holdings Inc. to “Market Perform”
Several other equities analysts have also issued reports on ADHD. Cantor Fitzgerald initiated coverage on Alcobra in a research note on Tuesday, June 7th. They issued a buy rating and a $16.00 price target on the stock. Canaccord Genuity initiated coverage on Alcobra in a research note on Tuesday, June 7th. They issued a buy rating on the stock. Roth Capital reissued a buy rating and issued a $12.00 price target on shares of Alcobra in a research note on Tuesday, June 21st. Zacks Investment Research lowered Alcobra from a hold rating to a sell rating in a research note on Monday, July 18th. Finally, Barclays PLC initiated coverage on Alcobra in a research note on Monday, August 1st. They issued an equal weight rating and a $8.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $8.34.
Shares of Alcobra (NASDAQ:ADHD) traded down 1.5976% on Thursday, reaching $2.4699. 730,128 shares of the company traded hands. Alcobra has a one year low of $1.95 and a one year high of $8.78. The firm’s 50 day moving average is $4.76 and its 200 day moving average is $4.52. The company’s market capitalization is $68.08 million.
Alcobra (NASDAQ:ADHD) last issued its quarterly earnings results on Tuesday, August 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. Analysts expect that Alcobra will post ($0.96) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its position in shares of Alcobra by 28.2% in the first quarter. Franklin Resources Inc. now owns 3,652,931 shares of the company’s stock worth $13,845,000 after buying an additional 804,350 shares in the last quarter. VHCP Management II LLC boosted its stake in shares of Alcobra by 28.7% in the second quarter. VHCP Management II LLC now owns 1,454,402 shares of the company’s stock worth $6,530,000 after buying an additional 323,902 shares during the period. VHCP Management LLC boosted its stake in shares of Alcobra by 28.7% in the second quarter. VHCP Management LLC now owns 623,313 shares of the company’s stock worth $2,799,000 after buying an additional 138,813 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Alcobra by 1.8% in the second quarter. BlackRock Fund Advisors now owns 361,130 shares of the company’s stock worth $1,621,000 after buying an additional 6,516 shares during the period. Finally, Palo Alto Investors LLC boosted its stake in shares of Alcobra by 7.3% in the second quarter. Palo Alto Investors LLC now owns 272,788 shares of the company’s stock worth $1,225,000 after buying an additional 18,600 shares during the period. 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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