Renaissance Technologies LLC Boosts Stake in Biodel Inc. (NASDAQ:ALBO)

Renaissance Technologies LLC boosted its stake in Biodel Inc. (NASDAQ:ALBO) by 0.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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.

Shares of Biodel Inc. (ALBO) remained flat at $22.15 on Thursday. The company had a trading volume of 277 shares. Biodel Inc. has a 52-week low of $10.80 and a 52-week high of $37.69. The firm’s 50-day moving average is $23.52 and its 200-day moving average is $22.06. The firm’s market capitalization is $139.37 million.

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

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Several research analysts have recently commented on the company. Zacks Investment Research upgraded Biodel from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Tuesday, July 11th. Needham & Company LLC assumed coverage on Biodel in a research report on Tuesday, July 18th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Wedbush assumed coverage on Biodel in a research report on Friday, June 30th. They issued an “outperform” rating 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 currently has a consensus rating of “Buy” and an average target price of $31.50.

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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