The Biodel Inc. (ALBO) Upgraded to Buy at Zacks Investment Research

The Biodel Inc. (ALBO) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Biodel Inc. (NASDAQ:ALBO) from a hold rating to a buy rating in a report published on Wednesday. They currently have $30.00 price target on the biopharmaceutical company’s stock.

According to Zacks, “Albireo Pharma, Inc. is a biopharmaceutical company. It focused on the development of novel bile acid modulators to treat orphan pediatric liver diseases and other liver and gastrointestinal diseases and disorders. Albireo Pharma Inc., formerly known as BIODEL INC., is based in Boston, United States. “

Several other brokerages also recently issued reports on ALBO. Wedbush started coverage on shares of Biodel in a research report on Friday, June 30th. They set an outperform rating on the stock. Needham & Company LLC started coverage on shares of Biodel in a research report on Tuesday, July 18th. They set a buy rating and a $35.00 price target on the stock. Cowen and Company started coverage on shares of Biodel in a research report on Wednesday, August 16th. They set an outperform rating on the stock. Finally, ValuEngine downgraded shares of Biodel from a hold rating to a sell rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $41.00.

Biodel (ALBO) traded down 1.52% during mid-day trading on Wednesday, hitting $26.00. 42,842 shares of the company’s stock were exchanged. Biodel has a 52 week low of $14.00 and a 52 week high of $37.69. The firm has a 50 day moving average of $23.51 and a 200 day moving average of $22.44. The stock’s market capitalization is $230.93 million.

Biodel (NASDAQ:ALBO) last issued its quarterly earnings results on Monday, August 21st. The biopharmaceutical company reported ($0.86) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.84) by ($0.02). Equities analysts forecast that Biodel will post ($3.64) earnings per share for the current fiscal year.

An institutional investor recently raised its position in Biodel stock. Renaissance Technologies LLC raised its holdings in shares of Biodel Inc. (NASDAQ:ALBO) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 149,632 shares of the biopharmaceutical company’s stock after purchasing an additional 794 shares during the period. Renaissance Technologies LLC’s holdings in Biodel were worth $3,591,000 as of its most recent filing with the Securities and Exchange Commission. 27.36% of the stock is owned by 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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