NeuroDerm Ltd. (NDRM) Rating Lowered to Sell at Zacks Investment Research
NeuroDerm Ltd. (NASDAQ:NDRM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
According to Zacks, “Neuroderm Ltd. is a clinical-stage pharmaceutical company. It is developing next-generation treatments for central nervous system (CNS) disorders. The Company develops liquid levodopa (LD), which is a treatment for Parkinson’s disease (PD). Its product pipelines includes ND0612L for moderate PD, ND0612H for severe PD, ND0680 for severe PD, ND0701 for severe PD and ND0801for Cognitive Disorders. NeuroDerm Ltd. is headquartered in Rehovot, Israel. “
A number of other equities research analysts also recently weighed in on NDRM. Oppenheimer Holdings, Inc. raised NeuroDerm from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Wednesday, June 14th. Deutsche Bank AG initiated coverage on NeuroDerm in a research report on Friday, July 21st. They set a “buy” rating and a $47.00 target price on the stock. Roth Capital set a $33.00 target price on NeuroDerm and gave the stock a “buy” rating in a research report on Wednesday, June 14th. CIBC raised NeuroDerm from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Wednesday, June 14th. Finally, BidaskClub raised NeuroDerm from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $45.86.
NeuroDerm (NASDAQ:NDRM) remained flat at $38.90 on Wednesday. The company had a trading volume of 165,035 shares. NeuroDerm has a 52-week low of $15.20 and a 52-week high of $38.95. The company’s 50 day moving average is $38.75 and its 200 day moving average is $31.22. The firm’s market cap is $1.02 billion.
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Hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its position in NeuroDerm by 11.0% during the second quarter. Van ECK Associates Corp now owns 4,723 shares of the biotechnology company’s stock worth $141,000 after buying an additional 468 shares in the last quarter. ETF Managers Group LLC acquired a new stake in NeuroDerm during the second quarter valued at approximately $210,000. Vanguard Group Inc. acquired a new stake in NeuroDerm during the second quarter valued at approximately $210,000. Oppenheimer & Co. Inc. acquired a new stake in NeuroDerm during the first quarter valued at approximately $223,000. Finally, Nationwide Fund Advisors acquired a new stake in NeuroDerm during the first quarter valued at approximately $226,000. 52.39% of the stock is currently owned by institutional investors and hedge funds.
NeuroDerm Ltd. is an Israel-based clinical-stage pharmaceutical company. The Company is engaged in developing treatments for central nervous system (CNS) disorders, primarily Parkinson’s disease, as well as other CNS diseases. The Company’s Parkinson’s disease product candidates are drug-device combination products, with devices and varying levodopa (LD)/carbidopa (CD) or apomorphine concentrations and dosages.
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