Alcobra Ltd. (NASDAQ:ADHD) was downgraded by research analysts at Piper Jaffray Cos. from an “overweight” rating to a “neutral” rating in a report issued on Thursday. They presently have a $3.00 price objective on the stock, down from their prior price objective of $10.00. Piper Jaffray Cos.’s price target would indicate a potential upside of 21.46% from the stock’s current price.
Several other analysts have also issued reports on ADHD. Cantor Fitzgerald initiated coverage on Alcobra in a report on Tuesday, June 7th. They set a “buy” rating and a $16.00 price objective for the company. Canaccord Genuity initiated coverage on Alcobra in a report on Tuesday, June 7th. They set a “buy” rating for the company. Roth Capital reiterated a “buy” rating and set a $12.00 price objective on shares of Alcobra in a report on Tuesday, June 21st. Zacks Investment Research lowered Alcobra from a “hold” rating to a “sell” rating in a report on Monday, July 18th. Finally, Barclays PLC initiated coverage on Alcobra in a report on Monday, August 1st. They set an “equal weight” rating and a $8.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Alcobra presently has an average rating of “Hold” and a consensus price target of $6.97.
Shares of Alcobra (NASDAQ:ADHD) opened at 2.47 on Thursday. The firm’s 50-day moving average price is $4.69 and its 200 day moving average price is $4.50. Alcobra has a 52 week low of $1.95 and a 52 week high of $8.78. The firm’s market cap is $68.08 million.
Alcobra (NASDAQ:ADHD) last announced its quarterly earnings data on Tuesday, August 30th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.01. Equities analysts anticipate that Alcobra will post ($0.94) EPS for the current year.
Large investors have recently modified their holdings of the stock. Stifel Financial Corp increased its stake in shares of Alcobra by 34.2% in the second quarter. Stifel Financial Corp now owns 62,000 shares of the company’s stock valued at $278,000 after buying an additional 15,800 shares in the last quarter. Jefferies Group LLC acquired a new stake in shares of Alcobra during the second quarter valued at about $533,000. Palo Alto Investors LLC increased its stake in shares of Alcobra by 7.3% in the second quarter. Palo Alto Investors LLC now owns 272,788 shares of the company’s stock valued at $1,225,000 after buying an additional 18,600 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Alcobra by 11.4% in the first quarter. BlackRock Fund Advisors now owns 354,614 shares of the company’s stock valued at $1,344,000 after buying an additional 36,218 shares in the last quarter. Finally, VHCP Management LLC increased its stake in shares of Alcobra by 28.7% in the second quarter. VHCP Management LLC now owns 623,313 shares of the company’s stock valued at $2,799,000 after buying an additional 138,813 shares in the last quarter. 73.69% of the stock is currently owned by institutional investors.
Alcobra Ltd is an Israel-based Biopharmaceutical company. It focuses on the development and commercialization of a proprietary drug, MG01CI, to treat Attention Deficit Hyperactivity Disorder (ADHD), a common and morbid neuropsychiatric condition in children and adults. Adult ADHD is associated with increased health risks and healthcare costs, higher divorce rates, lower levels of socioeconomic attainment, lower academic achievement, unemployment and work place deficits, increased risks for motor vehicle accidents, greater likelihood of additional psychiatric disorders, increased criminal activity and incarceration, and higher rates of substance use and abuse.
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