CIBC Upgrades NeuroDerm Ltd. (NDRM) to “Outperform”

CIBC upgraded shares of NeuroDerm Ltd. (NASDAQ:NDRM) from a market perform rating to an outperform rating in a report released on Wednesday. They currently have $42.00 price target on the biotechnology company’s stock.

A number of other research firms also recently weighed in on NDRM. Jefferies Group LLC reaffirmed a buy rating and issued a $42.00 price target on shares of NeuroDerm in a research note on Monday, April 24th. Oppenheimer Holdings, Inc. raised shares of NeuroDerm from a market perform rating to an outperform rating and set a $42.00 price target on the stock in a research note on Wednesday, June 14th. Citigroup Inc. cut shares of NeuroDerm from an outperform rating to a market perform rating in a report on Tuesday, March 7th. Zacks Investment Research cut shares of NeuroDerm from a buy rating to a hold rating in a report on Wednesday, April 5th. Finally, Roth Capital set a $33.00 price objective on shares of NeuroDerm and gave the stock a buy rating in a report on Thursday, March 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $43.50.

Analyst Recommendations for NeuroDerm (NASDAQ:NDRM)

NeuroDerm (NDRM) opened at 29.45 on Wednesday. NeuroDerm has a 52 week low of $15.12 and a 52 week high of $30.75. The firm’s 50 day moving average price is $24.39 and its 200-day moving average price is $24.31. The firm’s market cap is $775.65 million.

NeuroDerm (NASDAQ:NDRM) last posted its quarterly earnings results on Thursday, May 11th. The biotechnology company reported ($0.25) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.13. On average, analysts forecast that NeuroDerm will post ($2.02) EPS for the current year.

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Large investors have recently modified their holdings of the company. Tudor Investment Corp Et Al acquired a new stake in shares of NeuroDerm during the fourth quarter worth about $222,000. Oppenheimer & Co. Inc. acquired a new stake in shares of NeuroDerm during the first quarter worth about $223,000. Nationwide Fund Advisors acquired a new stake in shares of NeuroDerm during the first quarter worth about $226,000. HighTower Advisors LLC acquired a new stake in shares of NeuroDerm during the first quarter worth about $242,000. Finally, NJ State Employees Deferred Compensation Plan acquired a new stake in shares of NeuroDerm during the first quarter worth about $266,000. Hedge funds and other institutional investors own 50.24% of the company’s stock.

About NeuroDerm

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.

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