Deutsche Bank AG initiated coverage on shares of NeuroDerm Ltd. (NASDAQ:NDRM) in a research note issued to investors on Friday, July 21st, MarketBeat reports. The firm issued a buy rating and a $47.00 price target on the biotechnology company’s stock.
Several other analysts have also weighed in on NDRM. Roth Capital set a $33.00 price target on NeuroDerm and gave the company a buy rating in a report on Wednesday, June 14th. Jefferies Group LLC restated a buy rating and set a $42.00 price target on shares of NeuroDerm in a report on Friday, March 24th. Oppenheimer Holdings, Inc. restated a hold rating on shares of NeuroDerm in a report on Sunday, April 23rd. Zacks Investment Research lowered NeuroDerm from a buy rating to a hold rating in a report on Wednesday, April 5th. Finally, CIBC raised NeuroDerm from a market perform rating to an outperform rating and set a $42.00 price objective on the stock in a research report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $44.13.
NeuroDerm (NASDAQ:NDRM) remained flat at $38.55 during midday trading on Friday. The company’s stock had a trading volume of 618,671 shares. The firm has a 50-day moving average price of $34.97 and a 200 day moving average price of $28.06. NeuroDerm has a 12 month low of $15.20 and a 12 month high of $38.85. The firm’s market cap is $1.02 billion.
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A number of large investors have recently modified their holdings of the stock. State Street Corp increased its stake in shares of NeuroDerm by 23.6% in the second quarter. State Street Corp now owns 58,378 shares of the biotechnology company’s stock worth $1,746,000 after buying an additional 11,163 shares during the last quarter. DAFNA Capital Management LLC increased its stake in shares of NeuroDerm by 1.3% in the second quarter. DAFNA Capital Management LLC now owns 37,938 shares of the biotechnology company’s stock worth $1,134,000 after buying an additional 500 shares during the last quarter. Nexthera Capital LP increased its stake in shares of NeuroDerm by 13.6% in the second quarter. Nexthera Capital LP now owns 327,240 shares of the biotechnology company’s stock worth $9,784,000 after buying an additional 39,240 shares during the last quarter. ETF Managers Group LLC bought a new stake in shares of NeuroDerm during the second quarter worth $210,000. Finally, Balyasny Asset Management LLC increased its stake in shares of NeuroDerm by 156.5% in the second quarter. Balyasny Asset Management LLC now owns 110,800 shares of the biotechnology company’s stock worth $3,313,000 after buying an additional 67,600 shares during the last quarter. 53.22% of the stock is currently owned by institutional investors.
NeuroDerm Company Profile
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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