Biodel (NASDAQ:ALBO) Coverage Initiated by Analysts at Roth Capital

Investment analysts at Roth Capital started coverage on shares of Biodel (NASDAQ:ALBO) in a note issued to investors on Wednesday, November 15th, Marketbeat.com reports. The brokerage set a “buy” rating and a $92.00 price target on the biopharmaceutical company’s stock. Roth Capital’s target price points to a potential upside of 264.36% from the company’s previous close.

Other research analysts have also issued research reports about the company. Needham & Company LLC reissued a “buy” rating on shares of Biodel in a report on Thursday, October 26th. ValuEngine downgraded Biodel from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Cowen started coverage on Biodel in a research report on Wednesday, August 16th. They set an “outperform” rating on the stock. Zacks Investment Research lowered Biodel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Wedbush reissued an “outperform” rating and issued a $58.00 price target on shares of Biodel in a report on Monday, September 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Biodel has a consensus rating of “Buy” and an average target price of $53.75.

Biodel (NASDAQ ALBO) traded up $0.86 during mid-day trading on Wednesday, reaching $25.25. The company had a trading volume of 100,279 shares, compared to its average volume of 26,416. Biodel has a 12-month low of $15.31 and a 12-month high of $29.20.

An institutional investor recently raised its position in Biodel stock. Renaissance Technologies LLC boosted its position in shares of Biodel Inc. (NASDAQ:ALBO) by 0.5% during the 1st quarter, according to the company in its most recent 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 as of its most recent SEC filing. 29.22% of the stock is owned by institutional investors and hedge funds.

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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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