BioDelivery Sciences International (BDSI) Rating Increased to Hold at Zacks Investment Research

BioDelivery Sciences International (NASDAQ:BDSI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “BioDelivery has secured improved positioning in six new managed care contracts providing preferred access to its key drug, Bunavail, since July 2016. This is expected to boost the drug’s sales and profitability in turn. Meanwhile, its second marketed drug, Belbuca, recently received an approval in Canada for severe pain that should support further sales growth. BioDelivery’s shares have significantly outperformed the industry in the last one year. However, the company suffered a setback with the discontinuation of clonidine topical gel for management of painful diabetic neuropathy in December 2016. BioDelivery’s portfolio as well as its pipeline candidates may also face a severe competition as it targets a highly genericized and crowded market.”

Other research analysts also recently issued research reports about the stock. Piper Jaffray Companies set a $4.00 price objective on shares of BioDelivery Sciences International and gave the stock a “buy” rating in a report on Sunday, October 22nd. HC Wainwright set a $5.00 price objective on shares of BioDelivery Sciences International and gave the stock a “buy” rating in a report on Monday, November 27th. Seaport Global Securities assumed coverage on shares of BioDelivery Sciences International in a report on Friday, January 26th. They set a “buy” rating and a $5.00 price objective on the stock. Finally, Roth Capital set a $5.00 price objective on shares of BioDelivery Sciences International and gave the stock a “buy” rating in a report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $4.38.

BioDelivery Sciences International (BDSI) traded up $0.10 on Wednesday, reaching $2.40. 668,300 shares of the company’s stock traded hands, compared to its average volume of 558,727. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.07 and a current ratio of 1.28. BioDelivery Sciences International has a 1 year low of $1.55 and a 1 year high of $3.60. The firm has a market capitalization of $134.12, a P/E ratio of 25.56 and a beta of 0.50.

In other news, Director Mark A. Sirgo sold 162,509 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $2.78, for a total value of $451,775.02. Following the completion of the sale, the director now owns 1,759,262 shares in the company, valued at $4,890,748.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Sirgo sold 108,000 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $2.57, for a total transaction of $277,560.00. Following the completion of the sale, the director now owns 1,759,262 shares of the company’s stock, valued at approximately $4,521,303.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 980,011 shares of company stock worth $2,666,275. Corporate insiders own 7.73% of the company’s stock.

Several hedge funds have recently made changes to their positions in BDSI. Northern Trust Corp raised its holdings in shares of BioDelivery Sciences International by 0.9% in the second quarter. Northern Trust Corp now owns 140,450 shares of the specialty pharmaceutical company’s stock valued at $394,000 after purchasing an additional 1,203 shares during the last quarter. Advisor Group Inc. increased its holdings in BioDelivery Sciences International by 42.1% during the second quarter. Advisor Group Inc. now owns 45,066 shares of the specialty pharmaceutical company’s stock worth $126,000 after buying an additional 13,341 shares during the last quarter. EAM Investors LLC increased its holdings in BioDelivery Sciences International by 62.1% during the third quarter. EAM Investors LLC now owns 780,635 shares of the specialty pharmaceutical company’s stock worth $2,303,000 after buying an additional 299,163 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in BioDelivery Sciences International during the third quarter worth about $116,000. Finally, Wells Fargo & Company MN increased its holdings in BioDelivery Sciences International by 138.2% during the third quarter. Wells Fargo & Company MN now owns 35,506 shares of the specialty pharmaceutical company’s stock worth $105,000 after buying an additional 20,599 shares during the last quarter. Institutional investors own 44.16% of the company’s stock.

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BioDelivery Sciences International Company Profile

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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