BioDelivery Sciences International (BDSI) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of BioDelivery Sciences International (NASDAQ:BDSI) from a buy rating to a hold rating in a research note issued to investors on Monday.

According to Zacks, “BioDelivery secured improved positioning in several managed care contracts providing preferred access to its two drugs, Bunavail and belbuca. This has already started to boost the drug’s sales and profitability in 2018. Meanwhile, launch of Belbuca in Canada for severe pain is also supporting sales growth. Appointment of Herm Cukier, who has a good track record of bringing growth, as its new CEO bodes well for the company. BioDelivery’s shares have outperformed the industry in the past three 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. Loss estimates have been mixed ahead of the company’s Q3 earnings release. The company has a mixed record of earnings surprises in recent quarters.”

Several other equities research analysts have also recently weighed in on the stock. HC Wainwright set a $5.00 price target on shares of BioDelivery Sciences International and gave the company a buy rating in a research report on Monday, October 8th. Cantor Fitzgerald set a $5.00 price target on shares of BioDelivery Sciences International and gave the company a buy rating in a research report on Sunday, October 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $4.38.

BDSI stock opened at $3.67 on Monday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.90 and a current ratio of 3.16. BioDelivery Sciences International has a 52 week low of $1.70 and a 52 week high of $3.90. The firm has a market cap of $222.75 million, a P/E ratio of -9.41 and a beta of 0.63.

BioDelivery Sciences International (NASDAQ:BDSI) last released its earnings results on Thursday, August 9th. The specialty pharmaceutical company reported ($0.16) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.02. BioDelivery Sciences International had a negative net margin of 103.01% and a negative return on equity of 278.79%. The company had revenue of $12.18 million for the quarter, compared to analyst estimates of $12.44 million. Research analysts expect that BioDelivery Sciences International will post -0.61 earnings per share for the current year.

In other news, Director Francis E. Odonnell, Jr. sold 151,039 shares of the firm’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $2.84, for a total value of $428,950.76. Following the completion of the sale, the director now directly owns 520,482 shares of the company’s stock, valued at approximately $1,478,168.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 167,039 shares of company stock valued at $473,271. Corporate insiders own 13.26% of the company’s stock.

Several large investors have recently bought and sold shares of BDSI. Bank of Montreal Can purchased a new stake in shares of BioDelivery Sciences International in the 2nd quarter worth about $138,000. PNC Financial Services Group Inc. bought a new position in shares of BioDelivery Sciences International in the 2nd quarter worth about $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 acquiring an additional 113,779 shares in the last quarter. 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 acquiring an additional 31,749 shares in the last quarter. Finally, Fondren Management LP bought a new position in shares of BioDelivery Sciences International in the 2nd quarter worth about $679,000. 45.47% of the stock is owned by hedge funds and other institutional investors.

About BioDelivery Sciences International

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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