Zacks Investment Research Downgrades BioDelivery Sciences International (BDSI) to Hold

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BioDelivery Sciences International (NASDAQ:BDSI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “BioDelivery reported decent fourth-quarter results wherein earnings came in line with estimates and sales beat 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 profitability in 2018. Belbuca’s prescriptions grew sequentially in every quarter of 2018. Increase in sales force supported the growth. 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. Moreover, the company’s portfolio and its pipeline may face severe competition as these target a highly genericized and crowded market.”

BDSI has been the topic of a number of other reports. SunTrust Banks initiated coverage on shares of BioDelivery Sciences International in a report on Tuesday. They set a “buy” rating and a $7.00 price target on the stock. Cantor Fitzgerald restated a “buy” rating and set a $5.00 price objective on shares of BioDelivery Sciences International in a research report on Thursday, December 13th. Janney Montgomery Scott restated a “buy” rating and set a $5.00 price objective on shares of BioDelivery Sciences International in a research report on Thursday, January 31st. Finally, BidaskClub upgraded shares of BioDelivery Sciences International from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. BioDelivery Sciences International presently has an average rating of “Buy” and an average price target of $5.79.

Shares of NASDAQ BDSI opened at $5.30 on Wednesday. BioDelivery Sciences International has a 1 year low of $1.70 and a 1 year high of $5.36. The firm has a market cap of $373.92 million, a P/E ratio of -7.26 and a beta of 0.45. The company has a current ratio of 3.07, a quick ratio of 2.82 and a debt-to-equity ratio of 1.74.

In other news, Director Mark A. Sirgo sold 9,175 shares of the stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $3.57, for a total value of $32,754.75. Following the completion of the sale, the director now directly owns 506,187 shares in the company, valued at $1,807,087.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Francis E. Odonnell, Jr. sold 8,000 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $4.60, for a total transaction of $36,800.00. The disclosure for this sale can be found here. Insiders have sold 50,175 shares of company stock valued at $215,265 over the last 90 days. 13.26% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of BDSI. Northern Trust Corp raised its position in shares of BioDelivery Sciences International by 19.9% in the second quarter. Northern Trust Corp now owns 191,016 shares of the specialty pharmaceutical company’s stock valued at $563,000 after buying an additional 31,749 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of BioDelivery Sciences International by 121.7% in the third quarter. Wells Fargo & Company MN now owns 118,060 shares of the specialty pharmaceutical company’s stock valued at $331,000 after buying an additional 64,803 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of BioDelivery Sciences International by 35.8% in the third quarter. JPMorgan Chase & Co. now owns 267,874 shares of the specialty pharmaceutical company’s stock valued at $750,000 after buying an additional 70,633 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of BioDelivery Sciences International in the third quarter valued at about $255,000. Finally, Blair William & Co. IL increased its position in BioDelivery Sciences International by 11.5% during the third quarter. Blair William & Co. IL now owns 787,845 shares of the specialty pharmaceutical company’s stock worth $2,206,000 after purchasing an additional 80,975 shares during the last quarter. Institutional investors and hedge funds own 56.98% 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.

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