Despite Bunavail Stuggles, BioDelivery Sciences (BDSI) Should Sell Asset to Strategic Buyer - Piper Jaffray
- Wall St. slips as countdown to Trump's swearing-in begins
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- Apple (AAPL) PT Raised to $140 at BofA/Merrill Lynch; iPhone 8 Will be 'Super-Long' Cycle
- Morgan Stanley Upgrades Tesla Motors (TSLA) to Overweight
- CP's (CP) Outgoing CEO Hunter Harrison, Activist Paul Hilal Said Set to Target CSX Corp. (CSX)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium 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
- Mallinckrodt (MNK) Positive Thesis 'Intact' Following FTC Settlement - Guggenheim
- Cree (CREE) PT Raised to $23 at Canaccord Genuity
- Jefferies Downgrades Autoliv, Inc. (ALV) to Hold
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!