Redmile Group LLC decreased its position in NeuroDerm Ltd. (NASDAQ:NDRM) by 2.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 805,246 shares of the company’s stock after selling 16,199 shares during the period. NeuroDerm comprises 1.2% of Redmile Group LLC’s portfolio, making the stock its 28th largest position. Redmile Group LLC owned 3.71% of NeuroDerm worth $14,889,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Scopia Capital Management LP purchased a new position in shares of NeuroDerm during the third quarter worth approximately $62,558,000. Menora Mivtachim Holdings LTD. increased its position in shares of NeuroDerm by 209.7% in the second quarter. Menora Mivtachim Holdings LTD. now owns 590,724 shares of the company’s stock worth $9,599,000 after buying an additional 400,000 shares during the period. Baker BROS. Advisors LP purchased a new position in shares of NeuroDerm during the third quarter worth approximately $5,639,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of NeuroDerm during the third quarter worth approximately $5,122,000. Finally, Sectoral Asset Management Inc. purchased a new position in shares of NeuroDerm during the second quarter worth approximately $1,706,000. 35.92% of the stock is currently owned by institutional investors.
Shares of NeuroDerm Ltd. (NASDAQ:NDRM) opened at 24.95 on Friday. The stock has a 50 day moving average of $23.04 and a 200-day moving average of $19.19. The stock’s market capitalization is $541.91 million. NeuroDerm Ltd. has a 1-year low of $11.76 and a 1-year high of $25.20.
NDRM has been the topic of a number of analyst reports. Jefferies Group LLC lifted their target price on shares of NeuroDerm from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, December 9th. Zacks Investment Research raised shares of NeuroDerm from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, October 26th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $30.00 target price (up from $24.00) on shares of NeuroDerm in a research note on Friday, December 9th.
NeuroDerm Company Profile
NeuroDerm Ltd. is a clinical-stage pharmaceutical company. The Company is engaged in developing treatments for central nervous system (CNS) disorders, primarily Parkinson’s disease, as well as other CNS diseases. The Company’s Parkinson’s disease product candidates are drug-device combination products, with devices and varying levodopa/carbidopa (LD/CD) or apomorphine concentrations and dosages.
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