BioDelivery Sciences International (BDSI) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of BioDelivery Sciences International (NASDAQ:BDSI) from a buy rating to a hold rating in a research report released on Thursday morning, 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.”

A number of other equities analysts have also recently commented on BDSI. Cantor Fitzgerald set a $5.00 price objective on shares of BioDelivery Sciences International and gave the stock a buy rating in a research report on Friday, January 25th. Janney Montgomery Scott reaffirmed a buy rating and set a $5.00 price objective on shares of BioDelivery Sciences International in a research report on Thursday, January 31st. BidaskClub cut shares of BioDelivery Sciences International from a hold rating to a sell rating in a research report on Saturday, February 9th. HC Wainwright reaffirmed a buy rating and set a $6.00 price objective on shares of BioDelivery Sciences International in a research report on Friday, March 15th. Finally, SunTrust Banks started coverage on shares of BioDelivery Sciences International in a research report on Tuesday, March 19th. They set a buy rating and a $7.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $6.30.

BDSI stock traded down $0.04 during midday trading on Thursday, reaching $4.55. 25,058 shares of the company were exchanged, compared to its average volume of 994,683. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.88 and a quick ratio of 2.57. BioDelivery Sciences International has a one year low of $2.08 and a one year high of $5.37. The stock has a market cap of $414.36 million, a price-to-earnings ratio of -6.30 and a beta of 0.41.

BioDelivery Sciences International (NASDAQ:BDSI) last released its quarterly earnings data on Monday, May 6th. The specialty pharmaceutical company reported ($0.05) EPS for the quarter, topping the Zacks’ 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 firm had revenue of $19.77 million during the quarter, compared to analysts’ expectations of $19.60 million. Research analysts anticipate that BioDelivery Sciences International will post -0.15 EPS for the current fiscal year.

In other news, Director Francis E. Odonnell, Jr. sold 23,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $5.07, for a total value of $116,610.00. Following the completion of the sale, the director now owns 544,187 shares of the company’s stock, valued at $2,759,028.09. The sale 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 dated Thursday, March 21st. The shares were sold at an average price of $5.20, for a total transaction of $47,060.00. Following the completion of the sale, the director now directly 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 three months, insiders sold 3,878,335 shares of company stock valued at $19,396,895. 13.26% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. Weiss Asset Management LP bought a new stake in shares of BioDelivery Sciences International in the first quarter valued at about $113,000. Jane Street Group LLC acquired a new position in BioDelivery Sciences International in the first quarter valued at about $136,000. BlueCrest Capital Management Ltd raised its stake in BioDelivery Sciences International by 106.3% in the first quarter. BlueCrest Capital Management Ltd now owns 100,623 shares of the specialty pharmaceutical company’s stock valued at $533,000 after purchasing an additional 51,837 shares in the last quarter. Morgan Stanley raised its stake in BioDelivery Sciences International by 6,392.8% in the first quarter. Morgan Stanley now owns 1,748,052 shares of the specialty pharmaceutical company’s stock valued at $9,264,000 after purchasing an additional 1,721,129 shares in the last quarter. Finally, SEI Investments Co acquired a new position in BioDelivery Sciences International in the first quarter valued at about $598,000. 50.24% of the stock is owned by 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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