BioDelivery Sciences International (NASDAQ:BDSI)‘s stock had its “buy” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research report issued on Thursday, March 15th. They presently have a $5.00 price objective on the specialty pharmaceutical company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 138.10% from the stock’s previous close.
The analysts wrote, “Positives from the quarter: 1) BDSI announced it had secured preferred coverage for Belbuca with Humana (HUM, Neutral) effective March 1. Effective Jan. 1, 2018, United Healthcare (UNH, OW) removed step edits for Belbuca, and CVS/Caremark (CVS, Not covered) and ProCareRx moved Belbuca to a preferred position. Additionally, Belbuca and Butrans have been added to the Ohio Workers Comp formulary as preferred medications, effective 4/1/18; 2) Belbuca prescriptions grew 10% in 4Q17 vs. 3Q17, and have continued to grow in 2018; 3) Scott Plesha was appointed to the role of President; and 4) cash and equivalents totaled $21.9MM at 12/31/17, which should fund operations into 2H18. Management noted on the call that it could potentially qualify for an additional tranche of its loan agreement in 2018. Other levers the company has to decrease cash burn and extend the cash runway include better-than- expected sales, lower R&D and SG&A spending, and potential partnerships or divestments of the company’s other products.””
Other research analysts have also issued reports about the company. HC Wainwright set a $5.00 price objective on BioDelivery Sciences International and gave the company a “buy” rating in a research report on Monday, November 27th. ValuEngine lowered BioDelivery Sciences International from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Zacks Investment Research upgraded BioDelivery Sciences International from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Finally, Seaport Global Securities initiated coverage on BioDelivery Sciences International in a research note on Friday, January 26th. They issued a “buy” rating and a $5.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $4.25.
Shares of BDSI stock traded down $0.05 during mid-day trading on Thursday, hitting $2.10. 284,601 shares of the company’s stock were exchanged, compared to its average volume of 463,167. BioDelivery Sciences International has a fifty-two week low of $1.55 and a fifty-two week high of $3.60. The company has a quick ratio of 1.29, a current ratio of 1.52 and a debt-to-equity ratio of 5.37. The stock has a market capitalization of $122.74, a price-to-earnings ratio of -5.38 and a beta of 0.44.
BioDelivery Sciences International (NASDAQ:BDSI) last issued its earnings results on Thursday, March 15th. The specialty pharmaceutical company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). The firm had revenue of $12.51 million during the quarter, compared to analysts’ expectations of $9.83 million. BioDelivery Sciences International had a return on equity of 22.93% and a net margin of 8.52%. analysts anticipate that BioDelivery Sciences International will post -0.74 earnings per share for the current fiscal year.
In related news, CFO Paolantonio Ernest Robert De sold 64,155 shares of the business’s stock in a transaction that occurred on Friday, April 6th. The stock was sold at an average price of $2.09, for a total transaction of $134,083.95. Following the sale, the chief financial officer now owns 97,731 shares of the company’s stock, valued at $204,257.79. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark A. Sirgo sold 709,502 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $2.73, for a total value of $1,936,940.46. Following the completion of the transaction, the director now directly owns 1,759,262 shares in the company, valued at approximately $4,802,785.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 995,533 shares of company stock worth $2,592,279. Corporate insiders own 9.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN grew its position in BioDelivery Sciences International by 138.2% during the 3rd quarter. Wells Fargo & Company MN now owns 35,506 shares of the specialty pharmaceutical company’s stock worth $105,000 after purchasing an additional 20,599 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of BioDelivery Sciences International during the 3rd quarter valued at $116,000. Two Sigma Investments LP purchased a new position in shares of BioDelivery Sciences International during the 4th quarter valued at $166,000. BlueCrest Capital Management Ltd purchased a new position in shares of BioDelivery Sciences International during the 4th quarter valued at $201,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of BioDelivery Sciences International during the 4th quarter valued at $223,000. Hedge funds and other institutional investors own 45.82% of the company’s stock.
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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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