Zacks Investment Research Downgrades BioDelivery Sciences International (BDSI) to Hold

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BioDelivery Sciences International (NASDAQ:BDSI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “BioDelivery reported encouraging first-quarter results wherein earnings and sales surpassed the respective estimates. The company secured improved positioning in several managed care contracts, providing preferred access to Belbuca. The company’s efforts have brought 115 million patients under preferred coverage so far in 2019, having started 2018 with 7 million. The company’s efforts boosted the drug’s sales and the momentum is expected to continue in 2019. Belbuca’s prescriptions grew sequentially in the past few quarters. The acquisition of U.S. rights of Symproic strengthened the chronic pain portfolio. BioDelivery’s shares have outperformed the industry so far this year. However, given the lackluster performance of Bunavail, BioDelivery has decided to reduce spending on the drug. The company’s portfolio and its pipeline may face severe competition as these target a highly genericized and crowded market.”

Other equities research analysts have also issued research reports about the stock. Cantor Fitzgerald restated a “buy” rating and issued a $5.00 price target on shares of BioDelivery Sciences International in a report on Friday, February 8th. Janney Montgomery Scott restated a “buy” rating and issued a $5.00 price target on shares of BioDelivery Sciences International in a report on Thursday, January 31st. SunTrust Banks started coverage on shares of BioDelivery Sciences International in a report on Tuesday, March 19th. They issued a “buy” rating and a $7.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of BioDelivery Sciences International in a report on Friday, March 15th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $6.30.

Shares of NASDAQ:BDSI traded down $0.11 during trading hours on Thursday, hitting $4.63. The company’s stock had a trading volume of 15,557 shares, compared to its average volume of 952,177. BioDelivery Sciences International has a 52 week low of $1.90 and a 52 week high of $5.37. The company has a debt-to-equity ratio of 1.90, a quick ratio of 2.57 and a current ratio of 2.88. The firm has a market cap of $411.74 million, a P/E ratio of -6.34 and a beta of 0.41.

BioDelivery Sciences International (NASDAQ:BDSI) last posted its quarterly earnings results on Monday, May 6th. The specialty pharmaceutical company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. BioDelivery Sciences International had a negative net margin of 42.09% and a negative return on equity of 43.40%. The business had revenue of $19.77 million during the quarter, compared to analyst estimates of $19.60 million. On average, research analysts predict that BioDelivery Sciences International will post -0.16 EPS for the current fiscal year.

In related news, Director Francis E. Odonnell, Jr. sold 23,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $5.07, for a total transaction of $116,610.00. Following the completion of the transaction, the director now owns 544,187 shares in the company, valued at approximately $2,759,028.09. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Sirgo sold 9,050 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $5.20, for a total transaction of $47,060.00. Following the transaction, the director now owns 2,509,005 shares of the company’s stock, valued at approximately $13,046,826. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,878,335 shares of company stock valued at $19,396,895. Company insiders own 13.26% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BDSI. QCM Cayman Ltd. bought a new position in shares of BioDelivery Sciences International during the 1st quarter worth approximately $35,000. Advisor Group Inc. raised its stake in shares of BioDelivery Sciences International by 56.3% during the 4th quarter. Advisor Group Inc. now owns 10,943 shares of the specialty pharmaceutical company’s stock worth $40,000 after acquiring an additional 3,943 shares in the last quarter. First Allied Advisory Services Inc. acquired a new position in BioDelivery Sciences International during the 1st quarter valued at approximately $58,000. Means Investment CO. Inc. acquired a new position in BioDelivery Sciences International during the 1st quarter valued at approximately $59,000. Finally, Ellington Management Group LLC acquired a new position in BioDelivery Sciences International during the 1st quarter valued at approximately $66,000. Hedge funds and other institutional investors own 50.24% 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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