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 report released 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.”

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

Shares of BioDelivery Sciences International (NASDAQ:BDSI) traded up $0.10 during trading on Wednesday, reaching $2.40. 668,300 shares of the company were exchanged, compared to its average volume of 558,702. The company has a market capitalization of $134.12, a P/E ratio of 26.67 and a beta of 0.50. BioDelivery Sciences International has a 12 month low of $1.55 and a 12 month high of $3.60. The company has a current ratio of 1.28, a quick ratio of 1.07 and a debt-to-equity ratio of 1.89.

In other BioDelivery Sciences International news, Director Mark A. Sirgo sold 162,509 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $2.78, for a total transaction of $451,775.02. Following the completion of the sale, the director now directly owns 1,759,262 shares of the company’s stock, valued at $4,890,748.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark A. Sirgo sold 108,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $2.57, for a total transaction of $277,560.00. Following the sale, the director now directly owns 1,759,262 shares of the company’s stock, valued at $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. 7.73% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. BlueCrest Capital Management Ltd purchased a new stake in BioDelivery Sciences International during the fourth quarter valued at approximately $201,000. Broadfin Capital LLC increased its holdings in BioDelivery Sciences International by 5.1% during the fourth quarter. Broadfin Capital LLC now owns 4,634,119 shares of the specialty pharmaceutical company’s stock valued at $13,671,000 after buying an additional 223,253 shares during the last quarter. Royce & Associates LP increased its holdings in BioDelivery Sciences International by 43.0% during the fourth quarter. Royce & Associates LP now owns 1,848,600 shares of the specialty pharmaceutical company’s stock valued at $5,453,000 after buying an additional 555,800 shares during the last quarter. Wells Fargo & Company MN increased its holdings in BioDelivery Sciences International by 88.9% during the fourth quarter. Wells Fargo & Company MN now owns 67,081 shares of the specialty pharmaceutical company’s stock valued at $198,000 after buying an additional 31,575 shares during the last quarter. Finally, Krilogy Financial LLC increased its holdings in BioDelivery Sciences International by 28.8% during the third quarter. Krilogy Financial LLC now owns 134,000 shares of the specialty pharmaceutical company’s stock valued at $395,000 after buying an additional 30,000 shares during the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for BioDelivery Sciences International (NASDAQ:BDSI)

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