BioDelivery Sciences International, Inc. (BDSI) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of BioDelivery Sciences International, Inc. (NASDAQ:BDSI) from a sell rating to a buy rating in a report published on Tuesday. They currently have $2.00 price target on the specialty pharmaceutical company’s stock.
According to Zacks, “BioDelivery expects Bunavail to benefit from the Health and Human Services (HHS) ruling and new contract wins. However, we remain concerned about Bunavail’s performance from the pain market as it discontinued development of clonidine topical gel for management of painful diabetic neuropathy. BioDelivery’s portfolio as well as its pipeline candidates target highly genericized, crowded and competitive markets. Its share price also underperformed Zacks classified Medical-Biomed/Genetics Market in last one year. On the flip side, since this July, the company has secured improved positioning in six new managed care contracts, providing preferred access to Bunavail, which is expected to boost the drug’s sales and profitability in 2017. Estimates have been going down lately ahead of the company’s Q4 earnings release. The company has mixed record of earnings surprises in recent quarters.”
Other equities research analysts have also issued research reports about the stock. Roth Capital set a $7.00 price target on shares of BioDelivery Sciences International and gave the company a buy rating in a report on Sunday, October 30th. FBR & Co set a $8.00 price target on shares of BioDelivery Sciences International and gave the company a buy rating in a report on Thursday, December 8th. Cantor Fitzgerald set a $3.00 price target on shares of BioDelivery Sciences International and gave the company a hold rating in a report on Thursday, December 8th. Finally, Janney Montgomery Scott raised shares of BioDelivery Sciences International from a neutral rating to a buy rating and boosted their price target for the company from $2.45 to $4.00 in a report on Friday, September 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $5.14.
BioDelivery Sciences International (NASDAQ:BDSI) traded up 1.282% during mid-day trading on Tuesday, hitting $1.975. 192,943 shares of the company’s stock were exchanged. BioDelivery Sciences International has a 52 week low of $1.50 and a 52 week high of $4.39. The stock’s market capitalization is $106.88 million. The firm has a 50 day moving average of $1.81 and a 200 day moving average of $2.28.
BioDelivery Sciences International (NASDAQ:BDSI) last released its earnings results on Wednesday, November 9th. The specialty pharmaceutical company reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by $0.04. The company had revenue of $3.60 million for the quarter, compared to analyst estimates of $3.58 million. BioDelivery Sciences International had a negative net margin of 93.61% and a negative return on equity of 309.49%. BioDelivery Sciences International’s revenue for the quarter was up 200.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.39) earnings per share. Equities analysts forecast that BioDelivery Sciences International will post ($1.23) earnings per share for the current fiscal year.
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Large investors have recently bought and sold shares of the company. Emerald Acquisition Ltd. purchased a new stake in BioDelivery Sciences International during the second quarter valued at $2,711,000. Janney Montgomery Scott LLC raised its stake in BioDelivery Sciences International by 12.0% in the second quarter. Janney Montgomery Scott LLC now owns 61,300 shares of the specialty pharmaceutical company’s stock valued at $294,000 after buying an additional 6,550 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in BioDelivery Sciences International during the second quarter valued at $2,104,000. Vanguard Group Inc. raised its stake in BioDelivery Sciences International by 1.6% in the second quarter. Vanguard Group Inc. now owns 1,870,186 shares of the specialty pharmaceutical company’s stock valued at $4,414,000 after buying an additional 29,877 shares during the last quarter. Finally, Laurion Capital Management LP purchased a new stake in BioDelivery Sciences International during the second quarter valued at $257,000. 51.28% of the stock is currently owned by institutional investors and hedge funds.
About BioDelivery Sciences International
BioDelivery Sciences International, Inc is a specialty pharmaceutical company. The Company develops and commercializes, either on its own or in partnerships with third parties, applications of approved therapeutics to address unmet medical needs using drug delivery technologies. The Company develops pharmaceutical products aimed principally in the areas of pain management and addiction.
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