BioDelivery Sciences International, Inc. (NASDAQ:BDSI) Stock Rating Lowered by Zacks Investment Research

BioDelivery Sciences International, Inc. (NASDAQ:BDSI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday, July 17th.

According to Zacks, “BioDelivery’s has secured improved positioning in six new managed care contracts providing preferred access to its key drug Bunavail since July last year, which is expected to boost the drug’s sales and profitability in 2017. Moreover, its second marketed drug Belbuca’s sales hit all-time high since the product was launched a year ago. However, the company recently discontinued development of clonidine topical gel for management of painful diabetic neuropathy. BioDelivery’s portfolio as well as its pipeline candidates may also face sever competition as it targets a highly genericized and crowded market. Its share significantly outperformed the Zacks classified Medical-Biomed/Genetics market so far this year. Estimates have been stable lately ahead of the company’s Q2 earnings release. The company has mixed record of earnings surprises in recent quarters.”

Other equities analysts have also recently issued reports about the company. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price target on shares of BioDelivery Sciences International in a research note on Friday, June 23rd. ValuEngine lowered BioDelivery Sciences International from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Roth Capital set a $5.00 price objective on BioDelivery Sciences International and gave the stock a “buy” rating in a research report on Tuesday, May 16th. FBR & Co set a $4.00 price target on BioDelivery Sciences International and gave the company a “buy” rating in a research report on Tuesday, May 16th. Finally, Cantor Fitzgerald upgraded BioDelivery Sciences International from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $3.00 to $4.00 in a research report on Tuesday, May 16th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. BioDelivery Sciences International currently has a consensus rating of “Hold” and an average target price of $4.00.

BioDelivery Sciences International (BDSI) traded down 2.90% during trading on Monday, reaching $3.35. 254,414 shares of the company traded hands. The company’s 50-day moving average is $2.84 and its 200 day moving average is $2.17. The company’s market cap is $185.34 million. BioDelivery Sciences International has a 12 month low of $1.50 and a 12 month high of $3.60.

BioDelivery Sciences International (NASDAQ:BDSI) last released its quarterly earnings results on Monday, May 15th. The specialty pharmaceutical company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.49. BioDelivery Sciences International had a negative return on equity of 1.45% and a negative net margin of 0.19%. The firm had revenue of $29.48 million for the quarter, compared to analysts’ expectations of $27.07 million. On average, analysts anticipate that BioDelivery Sciences International will post $0.14 earnings per share for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc raised its position in BioDelivery Sciences International by 9.3% in the second quarter. NEXT Financial Group Inc now owns 47,000 shares of the specialty pharmaceutical company’s stock worth $132,000 after buying an additional 4,000 shares during the period. Sterling Investment Management Inc. purchased a new position in shares of BioDelivery Sciences International during the second quarter worth approximately $140,000. GSA Capital Partners LLP purchased a new position in shares of BioDelivery Sciences International during the fourth quarter worth approximately $142,000. A.R.T. Advisors LLC raised its position in shares of BioDelivery Sciences International by 174.8% in the fourth quarter. A.R.T. Advisors LLC now owns 98,100 shares of the specialty pharmaceutical company’s stock worth $171,000 after buying an additional 62,400 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of BioDelivery Sciences International by 19.9% in the second quarter. Janney Montgomery Scott LLC now owns 71,800 shares of the specialty pharmaceutical company’s stock worth $201,000 after buying an additional 11,900 shares during the last quarter. 40.33% of the stock is owned by institutional investors and hedge funds.

BioDelivery Sciences International Company Profile

BioDelivery Sciences International, Inc is a specialty pharmaceutical company. The Company develops and commercializes, either on its own or in partnerships with third parties, applications of approved therapeutics to address unmet medical needs using drug delivery technologies. The Company develops pharmaceutical products aimed principally in the areas of pain management and addiction.

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