In a report released yesterday, Brandon Folkes from Cantor Fitzgerald reiterated a Buy rating on BioDelivery (BDSI), with a price target of $5. The company’s shares closed yesterday at $3.69.
Folkes commented:
“. Post 3Q18, we are reiterating our Overweight rating and raising our 12-month price target to $5 from $4.50. We view BDSI as a Belbuca execution story, and, based on Symphony script data so far in 2018, the company is exceeding its execution goals as well as our expectations. During the quarter, Belbuca TRxs were up 95% over the 3Q17 level and up 25% over the 2Q18 level. BDSI continues to execute on its commercial plan to drive continued growth of Belbuca, such that we believe investors will be rewarded by the company’s solid execution in 2018 and beyond, which should drive upward earnings revisions and further upside in BDSI stock.”
According to TipRanks.com, Folkes is a 3-star analyst with an average return of 3.0% and a 47.2% success rate. Folkes covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, Opiant Pharmaceuticals Inc, and Eagle Pharmaceuticals Inc.
BioDelivery has an analyst consensus of Strong Buy, with a price target consensus of $4.83, a 30.9% upside from current levels. In a report issued on November 2, H.C. Wainwright also reiterated a Buy rating on the stock with a $5 price target.
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The company has a one-year high of $4.14 and a one-year low of $1.70. Currently, BioDelivery has an average volume of 577.6K.
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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.
