Biodel Inc. (ALBO) Receives Consensus Rating of “Buy” from Brokerages
Shares of Biodel Inc. (NASDAQ:ALBO) have been assigned an average rating of “Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $35.00.
ALBO has been the subject of several research analyst reports. Zacks Investment Research raised shares of Biodel from a “sell” rating to a “hold” rating in a report on Wednesday, April 26th. Wedbush initiated coverage on shares of Biodel in a report on Friday, June 30th. They set an “outperform” rating for the company. Needham & Company LLC initiated coverage on shares of Biodel in a report on Tuesday, July 18th. They set a “buy” rating and a $35.00 target price for the company. Finally, Cowen and Company initiated coverage on shares of Biodel in a report on Wednesday. They set an “outperform” rating for the company.
Shares of Biodel (ALBO) traded up 2.543% on Wednesday, hitting $21.975. 6,023 shares of the stock were exchanged. The firm’s market capitalization is $138.27 million. Biodel has a one year low of $11.40 and a one year high of $37.69. The company has a 50-day moving average price of $23.92 and a 200-day moving average price of $22.18.
A hedge fund recently raised its stake in Biodel stock. Renaissance Technologies LLC raised its stake in Biodel Inc. (NASDAQ:ALBO) by 0.5% during the first quarter, according to its most recent disclosure with the 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 quarter. 12.33% of the stock is currently owned by institutional investors and hedge funds.
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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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