NeuroDerm Ltd. (NDRM) Stock Rating Upgraded by Zacks Investment Research
NeuroDerm Ltd. (NASDAQ:NDRM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Saturday.
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. “
Several other analysts have also commented on NDRM. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of NeuroDerm in a report on Sunday, April 23rd. Jefferies Group LLC reiterated a “buy” rating and set a $42.00 price target on shares of NeuroDerm in a research report on Monday, April 24th. CIBC upgraded NeuroDerm from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research report on Wednesday, June 14th. Roth Capital set a $33.00 price target on NeuroDerm and gave the stock a “buy” rating in a research report on Wednesday, June 14th. Finally, Deutsche Bank AG started coverage on NeuroDerm in a research report on Friday, July 21st. They set a “buy” rating and a $47.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $44.13.
Shares of NeuroDerm (NASDAQ NDRM) opened at 38.55 on Friday. The firm’s 50 day moving average price is $34.97 and its 200-day moving average price is $28.06. NeuroDerm has a 1-year low of $15.20 and a 1-year high of $38.85. The company’s market capitalization is $1.02 billion.
A number of institutional investors have recently modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of NeuroDerm during the first quarter worth about $266,000. Nationwide Fund Advisors acquired a new position in shares of NeuroDerm during the first quarter worth about $226,000. NJ State Employees Deferred Compensation Plan acquired a new position in shares of NeuroDerm during the first quarter worth about $266,000. Menora Mivtachim Holdings LTD. increased its position in shares of NeuroDerm by 17.9% in the first quarter. Menora Mivtachim Holdings LTD. now owns 681,556 shares of the biotechnology company’s stock worth $18,095,000 after buying an additional 103,582 shares in the last quarter. Finally, OppenheimerFunds Inc. acquired a new position in shares of NeuroDerm during the first quarter worth about $7,588,000. Institutional investors own 53.22% of the company’s stock.
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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