ADHD: Alcobra Ltd. Prices Public Offering of Ordinary Shares
Alcobra Ltd. (Nasdaq:ADHD) announced the pricing of its previously announced underwritten public offering of 6,500,000 ordinary shares at an offering price of $4 per share. Gross proceeds from the sale of the shares by Alcobra before underwriting discounts and commissions and other offering expenses are expected to be approximately $26 million. The offering is expected to close on January 14, 2015, subject to customary closing conditions. In connection with the offering, Alcobra has also granted the underwriters a 30-day option to purchase up to an additional 15% of the ordinary shares offered to the public to cover over-allotments, if any… Read more
Shares of Alcobra Ltd closed yesterday at $4.25 . 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 $3.65 and it’s 200-day moving average is $11.57.
4 research analysts have assigned a Hold rating and one research analyst has given a a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is 4.25$ which is 123.5% 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.