Biodel Inc. (ALBO) Rating Increased to Buy at Zacks Investment Research

Biodel Inc. (NASDAQ:ALBO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $30.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 14.94% from the stock’s previous close.

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. “

Other research analysts have also issued reports about the company. Needham & Company LLC initiated coverage on Biodel in a research note on Tuesday, July 18th. They set a “buy” rating and a $35.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $58.00 price objective on shares of Biodel in a research note on Monday, September 11th. Cowen and Company assumed coverage on Biodel in a research note on Wednesday, August 16th. They issued an “outperform” rating for the company. Finally, ValuEngine lowered Biodel from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Biodel presently has an average rating of “Buy” and an average target price of $41.00.

Biodel (NASDAQ:ALBO) opened at 26.10 on Wednesday. The stock’s 50 day moving average is $23.51 and its 200 day moving average is $22.44. Biodel has a 52-week low of $14.00 and a 52-week high of $37.69. The company’s market cap is $231.82 million.

Biodel (NASDAQ:ALBO) last released its quarterly earnings data on Monday, August 21st. The biopharmaceutical company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.02). On average, analysts predict that Biodel will post ($3.64) earnings per share for the current fiscal year.

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An institutional investor recently raised its position in Biodel stock. Renaissance Technologies LLC grew its holdings in Biodel Inc. (NASDAQ:ALBO) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 149,632 shares of the biopharmaceutical company’s stock after buying an additional 794 shares during the quarter. Renaissance Technologies LLC’s holdings in Biodel were worth $3,591,000 at the end of the most recent reporting period. Institutional investors own 27.36% 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.

Analyst Recommendations for Biodel (NASDAQ:ALBO)

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