In a report released today, Brandon Folkes from Cantor Fitzgerald reiterated a Buy rating on BioDelivery (NASDAQ: BDSI), with a price target of $4.50. The company’s shares opened today at $2.90.
Folkes wrote:
“. Post 2Q18, we are reiterating our Overweight rating and our 12-month price target of $4.50. BDSI continues to evolve into a commercial- stage company with solid growth from its lead product, Belbuca. During the quarter, Belbuca TRxs were up 80% over 2Q17, and were up 31% over 1Q18. Fundamentally, BDSI continues to perform very well, and with the financing overhang removed, a new CEO and CMO, and with strong additions to the Board, we believe that investors will be rewarded by BDSI’s solid execution in 2018 and beyond.”
According to TipRanks.com, Folkes is a 1-star analyst with an average return of 0.2% and a 45.2% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Opiant Pharmaceuticals Inc, and Eagle Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for BioDelivery with a $3.83 average price target.
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Based on BioDelivery’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $10.71 million. In comparison, last year the company had a GAAP net loss of $14.88 million.
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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.
