Biodel Inc. (ALBO) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Biodel Inc. (NASDAQ:ALBO) from a buy rating to a hold rating in a report published on Monday morning.

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 subject of several other research reports. Cowen and Company initiated coverage on Biodel in a report on Wednesday, August 16th. They issued an outperform rating for the company. Needham & Company LLC initiated coverage on Biodel in a report on Tuesday, July 18th. They issued a buy rating and a $35.00 price objective for the company. Wedbush reissued an outperform rating and issued a $58.00 price objective on shares of Biodel in a report on Tuesday, October 24th. Finally, ValuEngine cut Biodel from a hold rating to a sell rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $53.75.

Shares of Biodel (NASDAQ:ALBO) opened at $25.57 on Monday. Biodel has a one year low of $15.31 and a one year high of $37.69.

Biodel (NASDAQ:ALBO) last posted its quarterly earnings results on Monday, August 21st. The biopharmaceutical company reported ($0.86) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.84) by ($0.02). sell-side analysts expect that Biodel will post -3.63 EPS for the current year.

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A hedge fund recently raised its stake in Biodel stock. Renaissance Technologies LLC grew its stake in Biodel Inc. (NASDAQ:ALBO) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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. Institutional investors and hedge funds 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.

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Analyst Recommendations for Biodel (NASDAQ:ALBO)

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