HC Wainwright Reaffirms Buy Rating for BioDelivery Sciences International (BDSI)

HC Wainwright restated their buy rating on shares of BioDelivery Sciences International (NASDAQ:BDSI) in a research report report published on Friday morning. HC Wainwright currently has a $6.00 price objective on the specialty pharmaceutical company’s stock.

“Our $6 12-month target (from $5) is based on a DCF reflecting strong Belbuca growth to nearly $180M by 2022, company cash-flow breakeven by end-2019, and overall profitability in 2020. Our DCF reflects a 10% WACC discount and negative -15% terminal value beyond 2026, and includes 90M fully diluted shares vs. currently reported 70M) to account for, among other shares, the substantial dilution from convertible preferred series B shares that were issued in the 2018 $50M financing ($1.80/share conversion price).”,” the firm’s analyst wrote.

A number of other equities analysts have also issued reports on the stock. Cantor Fitzgerald restated a buy rating and set a $8.00 target price on shares of BioDelivery Sciences International in a research report on Thursday, March 14th. BidaskClub upgraded shares of BioDelivery Sciences International from a sell rating to a hold rating in a research report on Wednesday, February 20th. Janney Montgomery Scott restated a buy rating and set a $5.00 target price on shares of BioDelivery Sciences International in a research report on Thursday, January 31st. Finally, Zacks Investment Research upgraded shares of BioDelivery Sciences International from a hold rating to a strong-buy rating and set a $4.75 target price on the stock in a research report on Wednesday, January 23rd. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. BioDelivery Sciences International presently has an average rating of Buy and an average target price of $5.55.

Shares of BDSI opened at $4.91 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 2.77 and a current ratio of 3.00. The company has a market cap of $350.51 million, a PE ratio of -12.59 and a beta of 0.45. BioDelivery Sciences International has a 12-month low of $1.70 and a 12-month high of $5.21.

In related news, Director Francis E. Odonnell, Jr. sold 8,000 shares of BioDelivery Sciences International stock in a transaction on Friday, February 1st. The shares were sold at an average price of $4.60, for a total value of $36,800.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark A. Sirgo sold 9,175 shares of BioDelivery Sciences International stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $3.57, for a total transaction of $32,754.75. Following the completion of the transaction, the director now owns 506,187 shares in the company, valued at $1,807,087.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,175 shares of company stock worth $215,265. 13.26% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of BDSI. Advisor Group Inc. grew its position in BioDelivery Sciences International by 56.3% in the 4th quarter. Advisor Group Inc. now owns 10,943 shares of the specialty pharmaceutical company’s stock valued at $40,000 after buying an additional 3,943 shares during the last quarter. Squarepoint Ops LLC purchased a new position in BioDelivery Sciences International in the 4th quarter valued at $147,000. Worth Venture Partners LLC purchased a new position in BioDelivery Sciences International in the 3rd quarter valued at $167,000. Raymond James & Associates grew its position in BioDelivery Sciences International by 14.9% in the 4th quarter. Raymond James & Associates now owns 46,211 shares of the specialty pharmaceutical company’s stock valued at $171,000 after buying an additional 6,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in BioDelivery Sciences International in the 3rd quarter valued at $255,000. Hedge funds and other institutional investors own 57.02% of the company’s stock.

BioDelivery Sciences International Company Profile

BioDelivery Sciences International, Inc is a pharmaceutical company, which engages in the development and commercialization of new applications of approved therapeutics to address important unmet medical needs. It focuses on pharmaceutical products in the areas of pain management and addiction. The company was founded on January 6, 1997 and is headquartered in Raleigh, NC.

Recommended Story: Momentum Investing

Receive News & Ratings for BioDelivery Sciences International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioDelivery Sciences International and related companies with MarketBeat.com's FREE daily email newsletter.