Despite Bunavail Stuggles, BioDelivery Sciences (BDSI) Should Sell Asset to Strategic Buyer - Piper Jaffray
- Healthcare, tech stocks drive Wall Street higher
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Qualcomm (QCOM) to Acquire NXP Semi (NXPI) in $47B Deal
- Tesla (TSLA) Posts Q3 adj.-EPS of 71c
- Pre-Open Stock Movers 10/27: (PRQR) (OCN) (TWTR) Higher; (CYH) (GNC) (RNWK) Lower (more...)
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Piper Jaffray analyst David Amsellem noted BioDelivery Sciences International (NASDAQ: BDSI) Bunavail is still struggling but said the company should explore a sale of the asset to a strategic buyer.
Amsellem commented, "BioDelivery Sciences reported 2Q16 net loss per share of ($0.31) on revenues of $5.0M, inclusive of a $2.5M upfront payment from Collegium related to the out-licensing of Onsolis this past May. Bunavail continues to struggle, with sales growing by less than 1% over 1Q16. Management remains focused on reaching profitability by the end of 2017, but in our view, that is far less important than putting the product on a path to sustainable volume growth. We continue to believe that given what in our view are meaningful advantages for Bunavail versus other forms of buprenorphine/naloxone (i.e., bioavailability/dosing), BDSI should explore the sale of the asset to a strategic buyer with an established track record of commercial success."
The firm reiterated an Overweight rating and price target of $4.00 on BDSI.
Shares of BioDelivery Sciences International closed at $2.50 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
- F5 Networks (FFIV) PT Raised to $120 at Jefferies
- Jefferies Raises Price Target as Cheesecake Factory (CAKE) Posts 3Q Beat
Create E-mail Alert Related CategoriesAnalyst Comments, FDA, Rumors
Related EntitiesPiper Jaffray
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!