BioDelivery Sciences International (NASDAQ:BDSI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “BioDelivery has secured improved positioning in six new managed care contracts providing preferred access to its key drug, Bunavail, since July 2016. This is expected to boost the drug’s sales and profitability in turn. Meanwhile, its second marketed drug, Belbuca, recently received an approval in Canada for severe pain that should support further sales growth. BioDelivery’s shares have significantly outperformed the industry in the last one year. However, the company suffered a setback with the discontinuation of clonidine topical gel for management of painful diabetic neuropathy in December 2016. BioDelivery’s portfolio as well as its pipeline candidates may also face a severe competition as it targets a highly genericized and crowded market.”

A number of other brokerages have also recently issued reports on BDSI. Piper Jaffray Companies set a $4.00 price objective on shares of BioDelivery Sciences International and gave the stock a “buy” rating in a research note on Sunday, October 22nd. Roth Capital set a $5.00 price objective on shares of BioDelivery Sciences International and gave the stock a “buy” rating in a research note on Monday, November 13th. Seaport Global Securities assumed coverage on shares of BioDelivery Sciences International in a research note on Friday, January 26th. They issued a “buy” rating and a $5.00 price objective for the company. Finally, HC Wainwright set a $5.00 price objective on shares of BioDelivery Sciences International and gave the stock a “buy” rating in a research note on Monday, November 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $4.38.

Shares of BioDelivery Sciences International (BDSI) traded up $0.10 during midday trading on Wednesday, hitting $2.40. 668,300 shares of the stock were exchanged, compared to its average volume of 558,702. The company has a current ratio of 1.28, a quick ratio of 1.07 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $134.12, a PE ratio of 26.67 and a beta of 0.50. BioDelivery Sciences International has a 1 year low of $1.55 and a 1 year high of $3.60.

In related news, Director Mark A. Sirgo sold 709,502 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $2.73, for a total transaction of $1,936,940.46. Following the completion of the transaction, the director now owns 1,759,262 shares in the company, valued at $4,802,785.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark A. Sirgo sold 108,000 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $2.57, for a total transaction of $277,560.00. Following the transaction, the director now owns 1,759,262 shares of the company’s stock, valued at approximately $4,521,303.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 980,011 shares of company stock valued at $2,666,275. 7.73% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the stock. BlueCrest Capital Management Ltd bought a new position in shares of BioDelivery Sciences International during the fourth quarter worth $201,000. Broadfin Capital LLC boosted its position in shares of BioDelivery Sciences International by 5.1% during the fourth quarter. Broadfin Capital LLC now owns 4,634,119 shares of the specialty pharmaceutical company’s stock worth $13,671,000 after acquiring an additional 223,253 shares during the last quarter. Royce & Associates LP boosted its position in shares of BioDelivery Sciences International by 43.0% during the fourth quarter. Royce & Associates LP now owns 1,848,600 shares of the specialty pharmaceutical company’s stock worth $5,453,000 after acquiring an additional 555,800 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of BioDelivery Sciences International by 88.9% during the fourth quarter. Wells Fargo & Company MN now owns 67,081 shares of the specialty pharmaceutical company’s stock worth $198,000 after acquiring an additional 31,575 shares during the last quarter. Finally, Krilogy Financial LLC boosted its position in shares of BioDelivery Sciences International by 28.8% during the third quarter. Krilogy Financial LLC now owns 134,000 shares of the specialty pharmaceutical company’s stock worth $395,000 after acquiring an additional 30,000 shares during the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece was first published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States and international copyright & trademark law. The correct version of this piece can be accessed at https://theolympiareport.com/2018/02/14/zacks-investment-research-upgrades-biodelivery-sciences-international-bdsi-to-hold.html.

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.

Get a free copy of the Zacks research report on BioDelivery Sciences International (BDSI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for BioDelivery Sciences International (NASDAQ:BDSI)

Receive News & Ratings for BioDelivery Sciences International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioDelivery Sciences International and related companies with MarketBeat.com's FREE daily email newsletter.