BioDelivery Sciences International, Inc. (BDSI) Shares Down 6.3% Following Weak Earnings

BioDelivery Sciences International, Inc. (NASDAQ:BDSI) traded down 6.3% during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $2.71 and last traded at $2.95, with a volume of 794,914 shares traded. The stock had previously closed at $3.15.

The specialty pharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by $0.04. The company had revenue of $8.70 million during the quarter, compared to analyst estimates of $8.45 million. BioDelivery Sciences International had a negative net margin of 0.19% and a negative return on equity of 1.45%. The business’s revenue was up 74.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.31) EPS.

Several equities analysts recently issued reports on the company. HC Wainwright set a $4.00 price target on BioDelivery Sciences International and gave the company a “buy” rating in a research report on Saturday, June 10th. 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. Piper Jaffray Companies set a $4.00 price target on BioDelivery Sciences International and gave the company a “buy” rating in a research report on Wednesday. Zacks Investment Research cut BioDelivery Sciences International from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, Cantor Fitzgerald upgraded BioDelivery Sciences International from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $3.00 to $4.00 in a research report on Tuesday, May 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. BioDelivery Sciences International has an average rating of “Buy” and a consensus price target of $4.14.

A number of institutional investors have recently added to or reduced their stakes in BDSI. Hikari Power Ltd acquired a new position in BioDelivery Sciences International during the first quarter valued at about $503,000. Blair William & Co. IL boosted its position in BioDelivery Sciences International by 37.6% in the first quarter. Blair William & Co. IL now owns 693,181 shares of the specialty pharmaceutical company’s stock valued at $1,386,000 after buying an additional 189,484 shares during the last quarter. Renaissance Technologies LLC acquired a new position in BioDelivery Sciences International during the first quarter valued at about $290,000. KCG Holdings Inc. boosted its position in BioDelivery Sciences International by 469.9% in the first quarter. KCG Holdings Inc. now owns 110,728 shares of the specialty pharmaceutical company’s stock valued at $210,000 after buying an additional 91,297 shares during the last quarter. Finally, Stonepine Capital Management LLC boosted its position in BioDelivery Sciences International by 9.4% in the first quarter. Stonepine Capital Management LLC now owns 2,844,820 shares of the specialty pharmaceutical company’s stock valued at $5,405,000 after buying an additional 244,109 shares during the last quarter. Institutional investors own 40.40% of the company’s stock.

The stock has a 50-day moving average of $3.04 and a 200-day moving average of $2.24. The firm’s market cap is $163.21 million.

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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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