3. Biodel (BIOD) shares rose in late June after the company announced positive results of a clinical study of its rapid-acting VIAject diabetes injection. On July 12, Biodel said preclinical tests of its glucose-regulated or "smart" basal insulin product candidate, BIOD620, suggests the company has "developed a new form of basal insulin that adjusts automatically to changing glucose levels."
Share Price: $3.90 (July 30 close)
Average Price Target: Just below $16, based on three analyst price targets of $17, $14 and $15 dating to June 14. Based on Biodel's current share price, analysts on average see upside of 295%.2010 Performance: -10.1% Analysts' View: Seven analysts cover Biodel and five of those research firms, including Cantor Fitzgerald and JPMorgan, rate the stock a "buy." On June 29, Ladenburg Thalmann analyst Matthew Kaplan reiterated his "buy" rating and $14 price target, arguing that "regulatory clarity may trigger a potential development and/or commercialization partnership."
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