BioDelivery Sciences International, Inc. (NASDAQ:BDSI) Shares Down 6.3% on Disappointing Earnings

BioDelivery Sciences International, Inc. (NASDAQ:BDSI)’s share price fell 6.3% on Thursday following a dissappointing earnings announcement. The company 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 for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.04. BioDelivery Sciences International had a return on equity of 29.66% and a net margin of 3.34%. The company had revenue of $8.70 million for the quarter, compared to analysts’ expectations of $8.45 million. During the same period in the prior year, the company posted ($0.31) EPS. The firm’s revenue was up 74.0% compared to the same quarter last year.

A number of research firms have recently weighed in on BDSI. Piper Jaffray Companies set a $4.00 price objective on BioDelivery Sciences International and gave the stock a “buy” rating in a research report on Wednesday. HC Wainwright set a $5.00 price objective on BioDelivery Sciences International and gave the stock a “buy” rating in a research report on Thursday. Janney Montgomery Scott upped their price objective on BioDelivery Sciences International from $3.00 to $4.00 and gave the stock a “fair value” rating in a research report on Monday, July 24th. Zacks Investment Research lowered BioDelivery Sciences International from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, ValuEngine lowered BioDelivery Sciences International from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $4.14.

Several institutional investors have recently modified their holdings of BDSI. Stonepine Capital Management LLC increased its position in shares of 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 worth $5,405,000 after buying an additional 244,109 shares during the last quarter. Blair William & Co. IL increased its position in shares of BioDelivery Sciences International by 112.2% in the second quarter. Blair William & Co. IL now owns 1,471,122 shares of the specialty pharmaceutical company’s stock worth $4,119,000 after buying an additional 777,941 shares during the last quarter. Grandeur Peak Global Advisors LLC increased its position in shares of BioDelivery Sciences International by 5.9% in the first quarter. Grandeur Peak Global Advisors LLC now owns 1,007,006 shares of the specialty pharmaceutical company’s stock worth $1,913,000 after buying an additional 56,550 shares during the last quarter. Hikari Power Ltd increased its position in shares of BioDelivery Sciences International by 127.2% in the second quarter. Hikari Power Ltd now owns 601,285 shares of the specialty pharmaceutical company’s stock worth $1,684,000 after buying an additional 336,675 shares during the last quarter. Finally, GSA Capital Partners LLP increased its position in shares of BioDelivery Sciences International by 10.1% in the second quarter. GSA Capital Partners LLP now owns 488,767 shares of the specialty pharmaceutical company’s stock worth $1,369,000 after buying an additional 44,700 shares during the last quarter. Hedge funds and other institutional investors own 40.40% of the company’s stock.

The company has a 50-day moving average price of $3.05 and a 200 day moving average price of $2.26. The stock’s market capitalization is $163.21 million.

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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.

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