BioDelivery Gets a Buy Rating from Cantor Fitzgerald

In a report released today, Brandon Folkes from Cantor Fitzgerald maintained a Buy rating on BioDelivery (NASDAQ: BDSI), with a price target of $4.50. The company’s shares opened today at $2.70.

Folkes commented:

“We reaffirm our OW rating and believe BDSI has two approved products with the potential to benefit from the FDA’s push for pain treatment that has less abuse and addiction potential than Schedule II opioids. MucoAdhesive (BEMA) buccal delivery platform has the potential to reformulate additional drugs within the chronic pain and addiction markets, in our view. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to reach our 12- month price target of $4.50.”

Folkes has an average return of 3.5% when recommending BioDelivery.

According to TipRanks.com, Folkes is ranked #4174 out of 4819 analysts.

Currently, the analyst consensus on BioDelivery is Strong Buy and the average price target is $3.83, representing a 41.9% upside.

In a report issued on May 23, H.C. Wainwright also reiterated a Buy rating on the stock with a $3.50 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 net profit of $48.33 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.