Cantor Fitzgerald Initiates Biodel (BIOD) with a Buy
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Cantor Fitzgerald initiates coverage on Biodel (NASDAQ: BIOD) with a Buy rating and a $33 price target.
Analysts highlighted Biodel's new diabetes drug, VIAject, which will be the first new, rapid-acting insulin providing substantial improvement in the outcome of patients with diabetes. This is a potential blockbuster in the firm’s view as diabetes is an expanding market while VIAject has the potential to become the next-generation standard of care for diabetes.
Biodel, Inc., a development stage specialty pharmaceutical company, focuses on the development and commercialization of treatments for endocrine disorders, such as diabetes and osteoporosis.
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