Biodel Inc. (ALBO) Coverage Initiated at Cowen and Company
Research analysts at Cowen and Company assumed coverage on shares of Biodel Inc. (NASDAQ:ALBO) in a research note issued to investors on Wednesday, The Fly reports. The firm set an “outperform” rating on the biopharmaceutical company’s stock.
A number of other analysts have also recently issued reports on ALBO. Zacks Investment Research upgraded shares of Biodel from a “sell” rating to a “hold” rating in a research note on Wednesday, April 26th. Wedbush initiated coverage on shares of Biodel in a research note on Friday, June 30th. They set an “outperform” rating for the company. Finally, Needham & Company LLC initiated coverage on shares of Biodel in a research note on Tuesday, July 18th. They set a “buy” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $31.50.
Shares of Biodel (NASDAQ ALBO) opened at 21.43 on Wednesday. The company has a 50-day moving average of $23.92 and a 200-day moving average of $22.18. Biodel has a 1-year low of $11.40 and a 1-year high of $37.69. The company’s market cap is $134.84 million.
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 firm 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 at the end of the most recent reporting period. 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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