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 note issued 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 research analysts also recently issued reports on BDSI. Cantor Fitzgerald reaffirmed a “hold” rating on shares of BioDelivery Sciences International in a research note on Saturday, July 9th. FBR & Co reaffirmed a “buy” rating on shares of BioDelivery Sciences International in a research note on Tuesday, September 20th. Janney Montgomery Scott reaffirmed a “hold” rating and issued a $4.00 price objective on shares of BioDelivery Sciences International in a research note on Tuesday, July 12th. Finally, Piper Jaffray Cos. reaffirmed a “sell” rating and issued a $4.00 price objective on shares of BioDelivery Sciences International in a research note on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $7.00.
Shares of BioDelivery Sciences International (NASDAQ:BDSI) traded down 0.612% on Wednesday, reaching $2.435. 179,157 shares of the company’s stock were exchanged. BioDelivery Sciences International has a 52-week low of $1.86 and a 52-week high of $6.67. The stock’s market cap is $130.61 million. The company’s 50 day moving average price is $2.50 and its 200-day moving average price is $2.62.
BioDelivery Sciences International (NASDAQ:BDSI) last released its quarterly earnings data 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 company earned $5 million during the quarter, compared to the consensus estimate of $3.35 million. During the same quarter in the prior year, the firm posted ($0.37) earnings per share. The firm’s revenue was up 194.1% compared to the same quarter last year. Equities analysts forecast 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 stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $2.44, for a total transaction of $36,112.00. Following the transaction, the chief financial officer now directly owns 14,866 shares in the company, valued at approximately $36,273.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Niraj Vasisht sold 47,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 73,081 shares in the company, valued at $177,586.83. The disclosure for this sale can be found here. Company insiders own 9.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position 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 worth $4,414,000 after buying an additional 29,877 shares during the last quarter. Royce & Associates LP boosted 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 in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of BioDelivery Sciences International during the second quarter worth about $2,711,000. Ameriprise Financial Inc. purchased a new position in shares of BioDelivery Sciences International during the second quarter worth about $2,104,000. Finally, Parametric Portfolio Associates LLC boosted its position in shares of BioDelivery Sciences International by 1.2% in the second quarter. Parametric Portfolio Associates LLC now owns 807,097 shares of the specialty pharmaceutical company’s stock worth $1,905,000 after buying an additional 9,727 shares in the last quarter. Hedge funds and other institutional investors own 60.39% of the company’s stock.
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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