BioDelivery Sciences International (NASDAQ:BDSI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “BioDelivery secured improved positioning in several managed care contracts providing preferred access to Belbuca. The company’s efforts has brought 100 million patients under preferred coverage so far this year, having started the year with 7 million. This has already started to boost the drug’s sales and profitability in 2018. Belbuca’s prescriptions has grown sequentially every quarter in 2018. Increase in sales force has supported the growth. BioDelivery’s shares have outperformed the industry in the past six months. However, given the lackluster performance of Bunavail, BioDelivery decided to reduce spending on the drug. Moreover, the company’s portfolio as well as its pipeline candidates may also face severe competition as it targets a highly genericized and crowded market.”
BDSI has been the topic of several other reports. Cantor Fitzgerald set a $5.00 price objective on BioDelivery Sciences International and gave the company a “buy” rating in a research report on Thursday, December 27th. BidaskClub raised BioDelivery Sciences International from a “sell” rating to a “hold” rating in a research report on Friday, December 7th. HC Wainwright set a $5.00 target price on shares of BioDelivery Sciences International and gave the company a “buy” rating in a research note on Monday, October 8th. Finally, Janney Montgomery Scott boosted their target price on shares of BioDelivery Sciences International to $5.00 and gave the company a “buy” rating in a research note on Friday, November 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $4.54.
Shares of BDSI traded down $0.04 during mid-day trading on Friday, reaching $4.05. The company had a trading volume of 16,066 shares, compared to its average volume of 582,197. The stock has a market cap of $282.83 million, a P/E ratio of -10.38 and a beta of 0.03. BioDelivery Sciences International has a 52 week low of $1.70 and a 52 week high of $4.14. The company has a quick ratio of 2.77, a current ratio of 3.00 and a debt-to-equity ratio of 1.42.
BioDelivery Sciences International (NASDAQ:BDSI) last released its quarterly earnings data on Thursday, November 8th. The specialty pharmaceutical company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.04. The business had revenue of $14.16 million for the quarter, compared to analysts’ expectations of $14.21 million. BioDelivery Sciences International had a negative return on equity of 141.35% and a negative net margin of 85.93%. On average, equities analysts anticipate that BioDelivery Sciences International will post -0.61 EPS for the current year.
In other BioDelivery Sciences International news, Director Francis E. Odonnell, Jr. sold 8,000 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $3.84, for a total transaction of $30,720.00. Following the completion of the sale, the director now directly owns 522,187 shares in the company, valued at approximately $2,005,198.08. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark A. Sirgo sold 10,000 shares of the business’s stock in a transaction on Thursday, December 27th. The shares were sold at an average price of $2.91, for a total transaction of $29,100.00. Following the sale, the director now owns 2,489,542 shares of the company’s stock, valued at $7,244,567.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,336 shares of company stock valued at $183,585. Company insiders own 13.26% of the company’s stock.
Several large investors have recently bought and sold shares of BDSI. BlackRock Inc. increased its stake in shares of BioDelivery Sciences International by 2.7% in the 2nd quarter. BlackRock Inc. now owns 1,190,286 shares of the specialty pharmaceutical company’s stock worth $3,512,000 after purchasing an additional 30,991 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of BioDelivery Sciences International in the 2nd quarter worth $148,000. Renaissance Technologies LLC increased its stake in shares of BioDelivery Sciences International by 214.7% in the 2nd quarter. Renaissance Technologies LLC now owns 166,779 shares of the specialty pharmaceutical company’s stock worth $492,000 after purchasing an additional 113,779 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of BioDelivery Sciences International in the 2nd quarter worth $1,770,000. Finally, Northern Trust Corp increased its stake in shares of BioDelivery Sciences International by 19.9% in the 2nd quarter. Northern Trust Corp now owns 191,016 shares of the specialty pharmaceutical company’s stock worth $563,000 after purchasing an additional 31,749 shares in the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.
BioDelivery Sciences International Company Profile
BioDelivery Sciences International, Inc, a specialty pharmaceutical company, engages in the development and commercialization of pharmaceutical products principally in the areas of pain management and addiction. The company provides its products based on its patented BioErodible MucoAdhesive drug delivery technology, a small erodible polymer film for application to the buccal mucosa, as well as other drug delivery technologies.
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