Biodel ( BIOD) focuses on the development and commercialization of treatments for diabetes. For the fourth quarter ended Sept. 30, the company reported a narrower loss of $8.1 million, or 31 cents a share, from $10.5 million, or 44 cents a share, a year earlier. The loss was narrower than analysts' estimates of a loss of 37 cents. At the end of the quarter, cash, cash equivalents, restricted cash, and marketable securities stood at $29.1 million. During 2011, the company seeks to conduct pre-clinical studies and Phase I clinical trials to determine whether one or more of its newer insulin formulations is likely to offer a combination of pharmacokinetic stability and tolerability characteristics that are preferable to its current formulation of Linjeta -- a human insulin for Type I and Type II Diabetes. Of the six analysts covering the stock, one analyst recommends buying it while five recommend holding it. Currently, the stock is trading at $1.69. The target price is $4.50, indicating an upside of 166%.