Biodel Inc. (ALBO) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Biodel Inc. (NASDAQ:ALBO) from a buy rating to a hold rating in a research note published on Tuesday, August 1st.

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. “

ALBO has been the topic of a number of other reports. Wedbush began coverage on shares of Biodel in a research report on Friday, June 30th. They issued an outperform rating on the stock. Needham & Company LLC began coverage on Biodel in a report on Tuesday, July 18th. They issued a buy rating and a $35.00 target price for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Biodel has a consensus rating of Buy and a consensus target price of $31.50.

Biodel (ALBO) traded up 0.40% on Tuesday, reaching $22.51. 8,541 shares of the company were exchanged. The firm has a 50-day moving average of $23.63 and a 200 day moving average of $22.06. The firm’s market capitalization is $141.63 million. Biodel has a 12-month low of $10.80 and a 12-month high of $37.69.

Biodel (NASDAQ:ALBO) last announced its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($1.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.10) by $0.04. On average, equities analysts predict that Biodel will post ($3.60) earnings per share for the current year.

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A hedge fund recently raised its stake in Biodel stock. Renaissance Technologies LLC boosted its stake in 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 quarter. Hedge funds and other institutional investors own 12.35% of the company’s stock.

About Biodel

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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