ADHD: Alcobra Ltd. Announces Closing of Public Offering of Ordinary Shares and Full Exercise of Over-Allotment Option
Alcobra Ltd. (Nasdaq:ADHD) today reported that it has closed its previously announced public offering of ordinary shares. The Company sold 7,475,000 ordinary shares in the offering, including 975,000 shares that were issued upon the full exercise by the underwriters of their over-allotment option. The offering price was $4.00 per share, and the net proceeds to the Company from the sale of the shares were approximately $27.9 million. Investors in the offering included Venrock, Deerfield, Broadfin Capital, Great Point Partners and others… Read more »
Shares of Alcobra Ltd closed yesterday at $6.05 . ADHD has a 1-year high of $25.44 and a 1-year low of $3.12. The stock’s 50-day moving average is $3.85 and it’s 200-day moving average is $11.21.
On the ratings front, Alcobra Ltd has been the subject of a number of recent research reports. In a report published on November 18, analyst Debjit Chattopadhyay from Roth Capital reiterated a Buy rating on ADHD, with a price target of $10, which implies an upside of 65.3% from current levels. Separately, on November 17, Aegis Capital Corp.`s Yi Chen downgraded Alcobra Ltd shares to Hold .
In total, 4 research analysts have assigned a Hold rating and one research analyst has given a a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $6.05 which is 57.0% above where the stock closed yesterday.
Alcobra Ltd is a biopharmaceutical company which engaged in the development and commercialization of its proprietary oral drug candidate, MDX, to treat ADHD and other cognitive dysfunctions including Fragile X Syndrome.