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Wedbush Securities Reiterates Neutral Rating, $3 PT on Biodel

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Biodel Announces Removal of Partial Clinical Hold for BIOD-531 and Plans for Potential Expansion of Target Patient Population
In a report published Friday, Wedbush Securities reiterated its Neutral rating and $3.00 price target on Biodel (NASDAQ: BIOD). Wedbush Securities noted, “We remain NEUTRAL on the stock with a $3 fair value. Despite being encouraged by the progress made in advancing the RHI-based and analog-based rapid acting insulin programs along with the liquid stabilized glucagon program, we would like to see positive proof-of-concept data from the glucagon program or positive Phase 2 data for BIOD-123 before including them in our fair value. Currently, our fair value only includes cash per share.” Biodel closed on Thursday at $2.86.

Latest Ratings for BIOD

May 2015Roth CapitalInitiates Coverage onBuy
May 2013Ladenburg ThalmannUpgradesNeutralBuy

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Posted-In: Wedbush SecuritiesAnalyst Color Reiteration Analyst Ratings


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