Zacks Investment Research Upgrades Alcobra Ltd. (ADHD) to Buy
Alcobra Ltd. (NASDAQ:ADHD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $1.25 price objective on the biotechnology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 23.76% from the company’s current price.
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. “
A number of other analysts have also weighed in on ADHD. Jefferies Group LLC reissued a “hold” rating and issued a $1.25 price target on shares of Alcobra in a report on Monday, June 12th. Roth Capital lowered shares of Alcobra from a “buy” rating to a “neutral” rating and lowered their price target for the company from $4.00 to $1.00 in a report on Friday, September 29th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $1.55.
Shares of Alcobra (NASDAQ ADHD) opened at 1.01 on Wednesday. The firm has a 50-day moving average price of $1.05 and a 200-day moving average price of $1.11. Alcobra has a 52-week low of $0.83 and a 52-week high of $2.70. The firm’s market capitalization is $27.84 million.
Alcobra (NASDAQ:ADHD) last issued its quarterly earnings results on Friday, August 11th. The biotechnology company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. On average, equities research analysts anticipate that Alcobra will post ($0.50) EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in ADHD. Citadel Advisors LLC boosted its position in shares of Alcobra by 7,251.0% during the first quarter. Citadel Advisors LLC now owns 100,114 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 101,514 shares in the last quarter. Worth Venture Partners LLC boosted its position in shares of Alcobra by 35.6% during the second quarter. Worth Venture Partners LLC now owns 271,982 shares of the biotechnology company’s stock worth $305,000 after purchasing an additional 71,465 shares in the last quarter. Finally, Royce & Associates LP boosted its position in shares of Alcobra by 15.5% during the first quarter. Royce & Associates LP now owns 745,055 shares of the biotechnology company’s stock worth $849,000 after purchasing an additional 100,000 shares in the last quarter. 29.68% of the stock is currently owned by institutional investors.
Alcobra Ltd is a development-stage biopharmaceutical company. The Company is focused on development and commercialization of its lead product candidates, including MDX and ADAIR. MDX is a oral drug, for the treatment of ADHD and other cognitive disorders, including Fragile X. MDX is a combined rapid onset ER formulation of the chemical pyridoxine pyroglutamate, which is more commonly known as metadoxine.
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