HC Wainwright Reiterates Buy Rating for BioDelivery Sciences International (BDSI)
BioDelivery Sciences International (NASDAQ:BDSI)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report released on Friday. They currently have a $6.00 price target on the specialty pharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 29.87% from the company’s previous close.
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).””
Other analysts have also recently issued reports about the company. Cantor Fitzgerald restated a “buy” rating and issued a $8.00 price target on shares of BioDelivery Sciences International in a research note on Thursday. BidaskClub upgraded BioDelivery Sciences International from a “sell” rating to a “hold” rating in a research note on Friday, January 11th. Finally, Zacks Investment Research upgraded BioDelivery Sciences International from a “hold” rating to a “strong-buy” rating and set a $4.75 price target on the stock in a research note on Wednesday, January 23rd. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $5.55.
In other news, Director Francis E. Odonnell, Jr. sold 8,000 shares of BioDelivery Sciences International stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $4.60, for a total transaction of $36,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Sirgo sold 9,175 shares of BioDelivery Sciences International stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $3.57, for a total value of $32,754.75. Following the sale, the director now owns 506,187 shares in the company, valued at approximately $1,807,087.59. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,175 shares of company stock worth $215,265. 13.26% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of BDSI. Advisor Group Inc. increased its position in shares of BioDelivery Sciences International by 56.3% during the fourth quarter. Advisor Group Inc. now owns 10,943 shares of the specialty pharmaceutical company’s stock worth $40,000 after purchasing an additional 3,943 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of BioDelivery Sciences International during the fourth quarter worth about $147,000. Worth Venture Partners LLC acquired a new stake in shares of BioDelivery Sciences International during the third quarter worth about $167,000. Raymond James & Associates increased its position in shares of BioDelivery Sciences International by 14.9% during the fourth quarter. Raymond James & Associates now owns 46,211 shares of the specialty pharmaceutical company’s stock worth $171,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of BioDelivery Sciences International during the third quarter worth about $255,000. Institutional investors and hedge funds own 57.02% 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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