FBR & Co Reiterates Buy Rating for BioDelivery Sciences International, Inc. (BDSI)
BioDelivery Sciences International, Inc. (NASDAQ:BDSI)‘s stock had its “buy” rating reaffirmed by investment analysts at FBR & Co in a note issued to investors on Monday. They presently have a $4.00 target price on the specialty pharmaceutical company’s stock. FBR & Co’s price objective would indicate a potential upside of 110.53% from the company’s previous close.
The analysts wrote, “BioDelivery reported 4Q16 results after the close on March 16. On the morning of March 17, management hosted a call to provide an update on 2017 progress. The company recently announced that it has entered into a senior credit facility with affiliates of CRG LP , which is a healthcare-focused investment firm, and currently has debt financing of up to $75M secured, with initial proceeds extending the company’s cash runway into 2H18.””
Other equities analysts have also issued reports about the company. Janney Montgomery Scott restated a “buy” rating and set a $3.00 price target on shares of BioDelivery Sciences International in a research report on Monday. Roth Capital set a $5.00 price target on BioDelivery Sciences International and gave the stock a “buy” rating in a research report on Monday, March 6th. Zacks Investment Research upgraded BioDelivery Sciences International from a “sell” rating to a “buy” rating and set a $2.00 price target on the stock in a research report on Tuesday, January 10th. Finally, Cantor Fitzgerald set a $3.00 price objective on BioDelivery Sciences International and gave the stock a “hold” rating in a report on Thursday, December 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $3.50.
BioDelivery Sciences International (NASDAQ:BDSI) remained flat at $1.90 during midday trading on Monday. 518,152 shares of the company traded hands. The company has a 50 day moving average of $1.97 and a 200-day moving average of $2.09. BioDelivery Sciences International has a 52-week low of $1.50 and a 52-week high of $4.00. The stock’s market cap is $102.82 million.
BioDelivery Sciences International (NASDAQ:BDSI) last posted its quarterly earnings results on Friday, March 17th. The specialty pharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by $0.03. BioDelivery Sciences International had a negative return on equity of 309.49% and a negative net margin of 93.61%. The company had revenue of $3.90 million for the quarter, compared to the consensus estimate of $6.37 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. BioDelivery Sciences International’s revenue was down 87.9% compared to the same quarter last year. On average, equities analysts anticipate that BioDelivery Sciences International will post ($0.73) earnings per share for the current year.
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Large investors have recently added to or reduced their stakes in the company. Stonepine Capital Management LLC acquired a new stake in BioDelivery Sciences International during the fourth quarter valued at $4,551,000. Baker BROS. Advisors LP acquired a new stake in BioDelivery Sciences International during the third quarter valued at $567,000. Broadfin Capital LLC boosted its stake in BioDelivery Sciences International by 4.0% in the fourth quarter. Broadfin Capital LLC now owns 5,398,794 shares of the specialty pharmaceutical company’s stock valued at $9,448,000 after buying an additional 210,000 shares during the period. Tiverton Asset Management LLC boosted its stake in BioDelivery Sciences International by 206.1% in the third quarter. Tiverton Asset Management LLC now owns 180,417 shares of the specialty pharmaceutical company’s stock valued at $487,000 after buying an additional 121,468 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in BioDelivery Sciences International during the fourth quarter valued at $142,000. Institutional investors and hedge funds own 53.57% of the company’s stock.
About BioDelivery Sciences International
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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