This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

10 Stocks Under $3 With Upside

3. Biodel (BIOD) is a development stage biopharmaceutical company focused on the development and commercialization of therapies for diabetes. The company develops its product candidates by applying its formulation technologies to existing drugs.

For the second quarter of 2011, net loss narrowed to $5.4 million or 21 cents per share from $10.4 million or 44 cents per share in the year-ago quarter. Cash and cash equivalents stood at $17.6 million, as on March 31, 2011. Research and development expenses declined 58.6% to $2.9 million, while general and administrative expenses decreased 32.3% to $2.3 million from the prior-year period.

Ayer Capital Management, a California-based firm, recently said that it has acquired a 6.39% stake in Biodel. The announcement came after Biodel announced to raise $30 million through a private stock placement. Besides, the company has entered into a definitive agreement with a group of institutional investors to sell 12.2 million shares of its common stock, 1.7 million shares of its Series A convertible preferred stock and warrants to purchase 9 million shares of its common stock at a negotiated price of $2.16 per unit.

Of the six analysts covering the stock, 33% recommend a buy, while the remaining rate a hold. There are no sell ratings on the stock. On average, analysts estimate 105.3% upside to $4.17 in value from current levels.

8 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
BRD $0.00 0.00%
GLCH $6.00 0.00%
PURE $0.63 0.00%
ACPW $2.14 0.00%
CPST $0.63 0.00%

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs