William Blair Analysts Cut Earnings Estimates for Biodel Inc. (ALBO)
Biodel Inc. (NASDAQ:ALBO) – Stock analysts at William Blair dropped their Q3 2017 earnings per share estimates for Biodel in a research note issued on Monday. William Blair analyst Y. Xu now anticipates that the biopharmaceutical company will post earnings per share of ($0.79) for the quarter, down from their previous estimate of ($0.52). William Blair also issued estimates for Biodel’s Q4 2017 earnings at ($0.86) EPS, FY2017 earnings at ($3.52) EPS, FY2018 earnings at ($2.65) EPS and FY2019 earnings at ($3.48) EPS.
A number of other brokerages have also weighed in on ALBO. Wedbush assumed coverage on Biodel in a research note on Friday, June 30th. They set an “outperform” rating on the stock. Zacks Investment Research lowered Biodel from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Needham & Company LLC assumed coverage on Biodel in a research note on Tuesday, July 18th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Cowen and Company assumed coverage on Biodel in a research note on Wednesday, August 16th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $31.50.
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Biodel (ALBO) opened at 24.47 on Wednesday. The company’s 50 day moving average is $24.62 and its 200-day moving average is $22.34. Biodel has a 52-week low of $11.40 and a 52-week high of $37.69. The company’s market capitalization is $217.34 million.
Biodel (NASDAQ:ALBO) last released its quarterly earnings results on Monday, August 21st. The biopharmaceutical company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by $0.02.
A hedge fund recently raised its stake in Biodel stock. Renaissance Technologies LLC increased its position in shares of Biodel Inc. (NASDAQ:ALBO) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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. Hedge funds and other institutional investors own 12.33% of the company’s stock.
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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