Alcobra Ltd. (ADHD) Announces Earnings Results, Misses Estimates By $0.02 EPS
Alcobra Ltd. (NASDAQ:ADHD) posted its quarterly earnings results on Tuesday. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by $0.02. The company had revenue of $7.90 million for the quarter, compared to analysts’ expectations of $4.30 million.
Shares of Alcobra (NASDAQ:ADHD) opened at 1.95 on Tuesday. The firm has a 50 day moving average of $2.44 and a 200-day moving average of $4.07. Alcobra has a 12 month low of $1.77 and a 12 month high of $6.80. The stock’s market capitalization is $53.75 million.
ADHD has been the topic of a number of recent research reports. Roth Capital set a $8.00 price target on shares of Alcobra and gave the stock a “buy” rating in a research report on Saturday, October 1st. Cantor Fitzgerald restated 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. restated a “buy” rating on shares of Alcobra in a research report on Thursday, September 1st. Jefferies Group restated a “buy” rating on shares of Alcobra in a research report on Thursday, August 25th. Finally, Zacks Investment Research upgraded shares of Alcobra from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a report on Tuesday, November 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $5.14.
Several large investors have recently added to or reduced their stakes in the company. Knoll Capital Management LP bought a new stake in Alcobra during the third quarter valued at about $2,799,000. Baker BROS. Advisors LP acquired a new position in shares of Alcobra during the third quarter worth $5,771,000. VHCP Management II LLC boosted its position in shares of Alcobra by 5.7% in the third quarter. VHCP Management II LLC now owns 1,537,463 shares of the company’s stock worth $3,798,000 after buying an additional 83,061 shares during the period. VHCP Management LLC boosted its position in shares of Alcobra by 5.7% in the third quarter. VHCP Management LLC now owns 658,910 shares of the company’s stock worth $1,628,000 after buying an additional 35,597 shares during the period. Finally, KCG Holdings Inc. acquired a new position in shares of Alcobra during the third quarter worth $117,000. 73.72% of the stock is currently owned by institutional investors and hedge funds.
Alcobra Company Profile
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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