NeuroDerm Ltd. (NDRM) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of NeuroDerm Ltd. (NASDAQ:NDRM) from a hold rating to a buy rating in a report published on Wednesday morning. They currently have $22.00 target price on the stock.
According to Zacks, “Neuroderm Ltd. is a clinical-stage pharmaceutical company. It is developing next-generation treatments for central nervous system (CNS) disorders. The Company develops liquid levodopa (LD), which is a treatment for Parkinson’s disease (PD). Its product pipelines includes ND0612L for moderate PD, ND0612H for severe PD, ND0680 for severe PD, ND0701 for severe PD and ND0801for Cognitive Disorders. NeuroDerm Ltd. is headquartered in Rehovot, Israel. “
Separately, Jefferies Group increased their price target on NeuroDerm from $28.00 to $40.00 and gave the company a buy rating in a research note on Tuesday, September 6th.
NeuroDerm (NASDAQ:NDRM) traded up 0.51% during mid-day trading on Wednesday, hitting $19.80. The company had a trading volume of 7,890 shares. The stock’s 50 day moving average price is $18.19 and its 200 day moving average price is $17.48. The firm has a market cap of $430.06 billion, a P/E ratio of 15.00 and a beta of 1.04. NeuroDerm has a 52-week low of $11.76 and a 52-week high of $20.52.
NeuroDerm (NASDAQ:NDRM) last issued its quarterly earnings results on Thursday, August 25th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.32). On average, equities research analysts predict that NeuroDerm will post ($1.47) EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in NDRM. Scopia Capital Management LP raised its stake in NeuroDerm by 23.1% in the first quarter. Scopia Capital Management LP now owns 3,383,359 shares of the company’s stock valued at $47,773,000 after buying an additional 634,321 shares in the last quarter. Menora Mivtachim Holdings LTD. raised its stake in NeuroDerm by 209.7% in the second quarter. Menora Mivtachim Holdings LTD. now owns 590,724 shares of the company’s stock valued at $9,599,000 after buying an additional 400,000 shares in the last quarter. venBio Select Advisor LLC raised its stake in NeuroDerm by 3.4% in the first quarter. venBio Select Advisor LLC now owns 537,477 shares of the company’s stock valued at $7,589,000 after buying an additional 17,455 shares in the last quarter. BlackRock Fund Advisors raised its stake in NeuroDerm by 4.0% in the third quarter. BlackRock Fund Advisors now owns 353,080 shares of the company’s stock valued at $6,528,000 after buying an additional 13,685 shares in the last quarter. Finally, Baker BROS. Advisors LP bought a new stake in NeuroDerm during the third quarter valued at $5,639,000. 42.93% of the stock is owned by institutional investors and hedge funds.
NeuroDerm Ltd. is a clinical-stage pharmaceutical company. The Company is engaged in developing treatments for central nervous system (CNS) disorders, primarily Parkinson’s disease, as well as other CNS diseases. The Company’s Parkinson’s disease product candidates are drug-device combination products, with devices and varying levodopa/carbidopa (LD/CD) or apomorphine concentrations and dosages.
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