Roth Capital Cuts Biodelivery Price Target To Reflect More Conservative Bunavail Launch Assumptions
In a research report published Friday, Roth Capital analyst Scott Henry upgraded shares of Biodelivery Sciences (NASDAQ:BDSI) from Hold to Buy rating, but reduced his price target to $18 (from $20), which implies an upside of 30% from current levels.
Henry explained, “We are upgrading shares of BDSI to Buy from Neutral post the recent contraction in the share price of ~25% since the launch of Bunavail. At current trading levels, we believe that the other programs warrant share purchase despite uncertainty in the Bunavail launch program (which is still very early). Our price target is reduced to $18.00/share to reflect more conservative Bunavail launch assumptions.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Scott Henry has a total average return of 8.4% and a 46.3% success rate. Henry has an 25.8% average return when recommending BDSI, and is ranked #601 out of 3420 analysts.