Other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. acquired a new position in NeuroDerm during the fourth quarter worth approximately $11,100,000. Renaissance Technologies LLC acquired a new position in NeuroDerm during the fourth quarter worth approximately $1,797,000. Bank of Montreal Can acquired a new position in NeuroDerm during the first quarter worth approximately $266,000. Finally, Tudor Investment Corp Et Al purchased a new position in shares of NeuroDerm during the fourth quarter valued at about $222,000. 52.30% of the stock is owned by hedge funds and other institutional investors.
Nationwide Fund Advisors acquired a new position in NeuroDerm Ltd. (NASDAQ:NDRM) during the first quarter, according to its most recent filing with the SEC. The firm acquired 8,500 shares of the biotechnology company’s stock, valued at approximately $226,000.
Shares of NeuroDerm Ltd. (NASDAQ:NDRM) traded down 0.065% during midday trading on Wednesday, reaching $38.625. 607,419 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $31.35 and its 200 day moving average price is $26.69. The firm’s market capitalization is $1.02 billion. NeuroDerm Ltd. has a 52-week low of $15.20 and a 52-week high of $38.85.
NeuroDerm (NASDAQ:NDRM) last issued its quarterly earnings data on Thursday, May 11th. The biotechnology company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.13. On average, equities research analysts anticipate that NeuroDerm Ltd. will post ($2.00) EPS for the current fiscal year.
Several brokerages have recently issued reports on NDRM. Roth Capital downgraded shares of NeuroDerm from a “buy” rating to a “neutral” rating and set a $39.00 price target for the company. in a report on Wednesday. BidaskClub raised shares of NeuroDerm from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Raymond James Financial, Inc. cut shares of NeuroDerm from an “outperform” rating to a “market perform” rating and set a $39.00 price objective on the stock. in a research note on Monday, July 24th. Deutsche Bank AG initiated coverage on shares of NeuroDerm in a research note on Friday, July 21st. They set a “buy” rating and a $47.00 price objective on the stock. Finally, Zacks Investment Research cut shares of NeuroDerm from a “hold” rating to a “sell” rating in a research note on Saturday, July 15th. One equities 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 company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $44.13.
NeuroDerm Company Profile
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.