Alcobra Ltd. (ADHD) Rating Lowered to Hold at Zacks Investment Research
Alcobra Ltd. (NASDAQ:ADHD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
According to Zacks, “Alcobra Ltd. is a biopharmaceutical company. It focuses on the development and commercialization of drugs to treat attention deficit hyperactivity disorder. Alcobra Ltd. is headquartered in Tel Aviv, Israel. “
Several other equities research analysts also recently weighed in on ADHD. Roth Capital set a $8.00 price objective on Alcobra and gave the company a “buy” rating in a report on Saturday, October 1st. WBB Securities raised Alcobra from a “sell” rating to a “hold” rating and cut their price objective for the company from $4.00 to $1.90 in a report on Wednesday, November 2nd. Piper Jaffray Cos. downgraded Alcobra from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $10.00 to $3.00 in a report on Thursday, September 29th. Cantor Fitzgerald downgraded Alcobra from a “buy” rating to a “hold” rating and set a $2.00 price objective on the stock. in a report on Thursday, September 29th. Finally, Jefferies Group reissued a “buy” rating on shares of Alcobra in a report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $5.14.
Alcobra (NASDAQ:ADHD) opened at 1.99 on Friday. The firm has a 50-day moving average price of $2.20 and a 200-day moving average price of $3.99. The firm’s market capitalization is $54.85 million. Alcobra has a 1-year low of $1.77 and a 1-year high of $6.80.
Alcobra (NASDAQ:ADHD) last issued its earnings results on Tuesday, November 15th. The company reported ($0.28) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by $0.02. The business earned $7.90 million during the quarter, compared to analysts’ expectations of $4.30 million. Equities analysts expect that Alcobra will post ($0.94) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Credit Suisse AG raised its position in Alcobra by 39.5% in the third quarter. Credit Suisse AG now owns 83,795 shares of the company’s stock valued at $207,000 after buying an additional 23,717 shares during the period. Knoll Capital Management LP acquired a new position in Alcobra during the third quarter valued at $2,799,000. Baker BROS. Advisors LP acquired a new position in Alcobra during the third quarter valued at $5,771,000. VHCP Management II LLC raised its position in Alcobra by 5.7% in the third quarter. VHCP Management II LLC now owns 1,537,463 shares of the company’s stock valued at $3,798,000 after buying an additional 83,061 shares during the period. Finally, VHCP Management LLC raised its position in Alcobra by 5.7% in the third quarter. VHCP Management LLC now owns 658,910 shares of the company’s stock valued at $1,628,000 after buying an additional 35,597 shares during the period. 73.93% of the stock is 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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