Biodel Inc. (ALBO) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Biodel Inc. (NASDAQ:ALBO) have been assigned a consensus recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $35.00.
A number of brokerages have recently issued reports on ALBO. Needham & Company LLC began coverage on Biodel in a report 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 report on Tuesday, July 11th. Cowen and Company began coverage on Biodel in a report on Wednesday, August 16th. They issued an “outperform” rating for the company. Finally, Wedbush began coverage on Biodel in a report on Friday, June 30th. They issued an “outperform” rating for the company.
Biodel (NASDAQ ALBO) traded up 3.99% on Wednesday, reaching $24.48. The company had a trading volume of 20,621 shares. The stock’s market cap is $154.03 million. The company has a 50-day moving average of $24.50 and a 200 day moving average of $22.28. Biodel has a one year low of $11.40 and a one year high of $37.69.
An institutional investor recently raised its position in Biodel stock. Renaissance Technologies LLC raised its position in Biodel Inc. (NASDAQ:ALBO) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,632 shares of the biopharmaceutical company’s stock after buying an additional 794 shares during the period. Renaissance Technologies LLC’s holdings in Biodel were worth $3,591,000 as of its most recent filing with the SEC. 12.33% of the stock is owned by hedge funds and other institutional investors.
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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