NeuroDerm Ltd. (NASDAQ:NDRM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
According to Zacks, “Neuroderm Ltd. is a clinical-stage pharmaceutical company. It is developing next-generation treatments for central nervous system (CNS) disorders. The Company develops liquid levodopa (LD), which is a treatment for Parkinson’s disease (PD). Its product pipelines includes ND0612L for moderate PD, ND0612H for severe PD, ND0680 for severe PD, ND0701 for severe PD and ND0801for Cognitive Disorders. NeuroDerm Ltd. is headquartered in Rehovot, Israel. “
A number of other equities analysts also recently issued reports on the company. Roth Capital downgraded NeuroDerm from a “buy” rating to a “neutral” rating and lifted their price target for the company from $33.00 to $39.00 in a research note on Wednesday, August 2nd. BidaskClub upgraded NeuroDerm from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Raymond James Financial, Inc. downgraded NeuroDerm from an “outperform” rating to a “market perform” rating and set a $39.00 price target for the company. in a research note on Monday, July 24th. Deutsche Bank AG began coverage on NeuroDerm in a research note on Friday, July 21st. They set a “buy” rating and a $47.00 price target for the company. Finally, CIBC upgraded NeuroDerm from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research note on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. NeuroDerm presently has an average rating of “Hold” and an average target price of $44.13.
Shares of NeuroDerm (NASDAQ:NDRM) opened at 38.65 on Thursday. The company’s market cap is $1.02 billion. The company’s 50-day moving average price is $31.35 and its 200 day moving average price is $26.69. NeuroDerm has a 12-month low of $15.20 and a 12-month high of $38.85.
NeuroDerm (NASDAQ:NDRM) last released its quarterly earnings results on Thursday, May 11th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.13. Equities analysts predict that NeuroDerm will post ($2.03) earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of NeuroDerm during the fourth quarter worth $1,797,000. Bank of Montreal Can acquired a new position in shares of NeuroDerm during the first quarter worth $266,000. Nationwide Fund Advisors acquired a new position in shares of NeuroDerm during the first quarter worth $226,000. NJ State Employees Deferred Compensation Plan acquired a new position in shares of NeuroDerm during the first quarter worth $266,000. Finally, Menora Mivtachim Holdings LTD. increased its position in shares of NeuroDerm by 17.9% in the first quarter. Menora Mivtachim Holdings LTD. now owns 681,556 shares of the biotechnology company’s stock worth $18,095,000 after buying an additional 103,582 shares during the last quarter. Hedge funds and other institutional investors own 52.82% of the company’s stock.
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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