WBB Securities Upgrades Alcobra Ltd. (ADHD) to Buy
Alcobra Ltd. (NASDAQ:ADHD) was upgraded by research analysts at WBB Securities from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage currently has a $2.00 price objective on the biotechnology company’s stock. WBB Securities’ target price points to a potential upside of 90.48% from the company’s previous close.
A number of other equities research analysts have also issued reports on ADHD. Jefferies Group LLC reiterated a “hold” rating and issued a $1.25 price target on shares of Alcobra in a research note on Monday, June 12th. Zacks Investment Research upgraded Alcobra from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a research note on Tuesday, July 18th. Finally, Roth Capital lowered Alcobra from a “buy” rating to a “neutral” rating and cut their price target for the stock from $4.00 to $1.00 in a research note 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 stock currently has a consensus rating of “Hold” and an average target price of $1.56.
Alcobra (NASDAQ ADHD) traded up 2.86% during midday trading on Monday, reaching $1.08. The company had a trading volume of 608,909 shares. The company’s market capitalization is $29.77 million. Alcobra has a 52 week low of $0.83 and a 52 week high of $2.70. The firm has a 50-day moving average price of $1.05 and a 200-day moving average price of $1.11.
Alcobra (NASDAQ:ADHD) last issued its quarterly earnings results on Friday, August 11th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.02. Analysts expect that Alcobra will post ($0.50) EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Worth Venture Partners LLC boosted its holdings in shares of Alcobra by 35.6% during the 2nd quarter. Worth Venture Partners LLC now owns 271,982 shares of the biotechnology company’s stock valued at $305,000 after purchasing an additional 71,465 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Alcobra by 15.5% during the 1st quarter. Royce & Associates LP now owns 745,055 shares of the biotechnology company’s stock valued at $849,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Citadel Advisors LLC boosted its holdings in shares of Alcobra by 7,251.0% during the 1st quarter. Citadel Advisors LLC now owns 100,114 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 101,514 shares during the last quarter. 29.68% of the stock is owned by institutional investors and hedge funds.
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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