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."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV