BioDelivery Sciences International (NASDAQ:BDSI)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research note issued to investors on Friday. They presently have a $6.00 price objective on the specialty pharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 20.48% from the company’s current price.
The analysts wrote, “Our $6 12-month target (from $5) is based on a DCF reflecting strong Belbuca growth to nearly $180M by 2022, company cash-flow breakeven by end-2019, and overall profitability in 2020. Our DCF reflects a 10% WACC discount and negative -15% terminal value beyond 2026, and includes 90M fully diluted shares vs. currently reported 70M) to account for, among other shares, the substantial dilution from convertible preferred series B shares that were issued in the 2018 $50M financing ($1.80/share conversion price).””
A number of other brokerages have also weighed in on BDSI. Cantor Fitzgerald reissued a “buy” rating and issued a $8.00 price objective on shares of BioDelivery Sciences International in a report on Thursday. BidaskClub raised BioDelivery Sciences International from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Janney Montgomery Scott reissued a “buy” rating and issued a $5.00 price objective on shares of BioDelivery Sciences International in a report on Thursday, January 31st. Finally, Zacks Investment Research raised BioDelivery Sciences International from a “hold” rating to a “strong-buy” rating and set a $4.75 price objective on the stock in a report on Wednesday, January 23rd. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $5.55.
Shares of NASDAQ:BDSI opened at $4.98 on Friday. BioDelivery Sciences International has a 1 year low of $1.70 and a 1 year high of $5.21. The stock has a market cap of $352.63 million, a P/E ratio of -12.77 and a beta of 0.45. The company has a current ratio of 3.00, a quick ratio of 2.77 and a debt-to-equity ratio of 1.42.
In other news, Director Francis E. Odonnell, Jr. sold 23,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $5.07, for a total value of $116,610.00. Following the transaction, the director now directly owns 544,187 shares of the company’s stock, valued at $2,759,028.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the director now directly owns 506,187 shares in the company, valued at $1,807,087.59. The disclosure for this sale can be found here. Insiders sold 50,175 shares of company stock worth $215,265 over the last three months. Corporate insiders own 13.26% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Advisor Group Inc. boosted its stake in shares of BioDelivery Sciences International by 56.3% in the fourth quarter. Advisor Group Inc. now owns 10,943 shares of the specialty pharmaceutical company’s stock worth $40,000 after buying an additional 3,943 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of BioDelivery Sciences International in the fourth quarter worth about $147,000. Raymond James & Associates boosted its stake in shares of BioDelivery Sciences International by 14.9% in the fourth quarter. Raymond James & Associates now owns 46,211 shares of the specialty pharmaceutical company’s stock worth $171,000 after buying an additional 6,000 shares during the last quarter. Worth Venture Partners LLC purchased a new stake in shares of BioDelivery Sciences International in the third quarter worth about $167,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of BioDelivery Sciences International in the third quarter worth about $255,000. 57.02% of the stock is currently owned by institutional investors and hedge funds.
About BioDelivery Sciences International
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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