BioDelivery Sciences International Inc. (BDSI) Stock Rating Lowered by Zacks Investment Research
BioDelivery Sciences International Inc. (NASDAQ:BDSI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “BioDelivery’s Bunavail should benefit from the Health and Human Services (HHS) ruling and new contract wins. Meanwhile, the Collegium licensing deal for Onsolis in the U.S. also makes sense given Collegium’s focus on pain management market the approval of Xtampza ER. The Endo deal is also a positive — it has not only generated funds for BioDelivery but has also provided the company with a strong partner in Endo, which boasts marketing strength and solid presence in pain management. Belbuca has multi-million dollar potential. However, we remain concerned about Bunavail’s performance and pressure from the pain market, which could restrict its uptake. Belbuca’s launch has also been slower than expected due to pressure in the pain market. Estimates have been stable lately ahead of the company’s Q3 earnings release. The company also has a weak record of earnings surprises in the recent quarters.”
Several other equities analysts have also recently issued reports on the company. Janney Montgomery Scott raised BioDelivery Sciences International from a “neutral” rating to a “buy” rating and boosted their target price for the company from $2.45 to $4.00 in a research note on Friday, September 23rd. FBR & Co reissued a “buy” rating on shares of BioDelivery Sciences International in a research note on Tuesday, September 20th. Cantor Fitzgerald reissued a “hold” rating on shares of BioDelivery Sciences International in a research note on Wednesday, August 10th. Finally, Piper Jaffray Cos. reissued a “sell” rating and set a $4.00 target price on shares of BioDelivery Sciences International in a research note on Wednesday, August 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $7.00.
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BioDelivery Sciences International (NASDAQ:BDSI) traded down 0.612% during midday trading on Wednesday, reaching $2.435. The company had a trading volume of 179,157 shares. BioDelivery Sciences International has a 12-month low of $1.86 and a 12-month high of $6.67. The stock’s market capitalization is $130.61 million. The company has a 50-day moving average of $2.50 and a 200-day moving average of $2.62.
BioDelivery Sciences International (NASDAQ:BDSI) last posted its earnings results on Tuesday, August 9th. The specialty pharmaceutical company reported ($0.31) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.31). BioDelivery Sciences International had a negative return on equity of 233.80% and a negative net margin of 109.64%. The firm had revenue of $5 million for the quarter, compared to analysts’ expectations of $3.35 million. During the same period in the previous year, the firm earned ($0.37) earnings per share. The business’s revenue was up 194.1% compared to the same quarter last year. On average, analysts predict that BioDelivery Sciences International will post ($1.14) EPS for the current fiscal year.
In other BioDelivery Sciences International news, CFO Paolantonio Ernest Robert De sold 14,800 shares of the business’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $2.44, for a total value of $36,112.00. Following the sale, the chief financial officer now directly owns 14,866 shares of the company’s stock, valued at $36,273.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Niraj Vasisht sold 47,000 shares of the business’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $2.43, for a total value of $114,210.00. Following the completion of the sale, the insider now directly owns 73,081 shares in the company, valued at $177,586.83. The disclosure for this sale can be found here. 9.00% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of BioDelivery Sciences International by 6.6% in the first quarter. JPMorgan Chase & Co. now owns 297,533 shares of the specialty pharmaceutical company’s stock worth $961,000 after buying an additional 18,533 shares during the last quarter. Royce & Associates LP increased its position in shares of BioDelivery Sciences International by 23.5% in the first quarter. Royce & Associates LP now owns 1,837,800 shares of the specialty pharmaceutical company’s stock worth $5,936,000 after buying an additional 350,000 shares during the last quarter. Geode Capital Management LLC increased its position in shares of BioDelivery Sciences International by 1.0% in the first quarter. Geode Capital Management LLC now owns 299,783 shares of the specialty pharmaceutical company’s stock worth $968,000 after buying an additional 3,067 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of BioDelivery Sciences International by 1.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 32,132 shares of the specialty pharmaceutical company’s stock worth $104,000 after buying an additional 581 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of BioDelivery Sciences International during the second quarter worth about $1,648,000. 60.39% 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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