BioDelivery Sciences International Inc. (NASDAQ:BDSI) shot up 5.1% during mid-day trading on Wednesday . The stock traded as high as $2.81 and last traded at $2.47, with a volume of 1,480,457 shares. The stock had previously closed at $2.35.

Several brokerages have recently issued reports on BDSI. FBR & Co restated a “buy” rating on shares of BioDelivery Sciences International in a research note on Saturday, March 12th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $4.00 target price (down from $6.00) on shares of BioDelivery Sciences International in a research report on Thursday, May 12th. Zacks Investment Research raised BioDelivery Sciences International from a “hold” rating to a “buy” rating and set a $2.75 target price for the company in a research report on Tuesday. Roth Capital reaffirmed a “buy” rating on shares of BioDelivery Sciences International in a research report on Monday, March 28th. Finally, Cantor Fitzgerald cut BioDelivery Sciences International from a “buy” rating to a “hold” rating and reduced their target price for the stock from $9.00 to $5.00 in a research report on Wednesday, May 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $8.38.

The company’s market capitalization is $136.66 million. The stock’s 50-day moving average price is $2.34 and its 200 day moving average price is $3.29.

BioDelivery Sciences International (NASDAQ:BDSI) last announced its quarterly earnings data on Tuesday, May 10th. The specialty pharmaceutical company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by $0.01. During the same quarter in the prior year, the company posted ($0.16) EPS. The firm earned $3 million during the quarter, compared to the consensus estimate of $2.96 million. The firm’s quarterly revenue was down 77.1% on a year-over-year basis. Equities analysts anticipate that BioDelivery Sciences International Inc. will post ($1.19) EPS for the current year.

Several hedge funds and institutional investors have bought and sold shares of BDSI. 1492 Capital Management LLC raised its position in BioDelivery Sciences International by 8.3% in the fourth quarter. 1492 Capital Management LLC now owns 538,538 shares of the specialty pharmaceutical company’s stock worth $2,580,000 after buying an additional 41,069 shares during the last quarter. Turner Investments L.P. raised its position in BioDelivery Sciences International by 55.4% in the fourth quarter. Turner Investments L.P. now owns 900,830 shares of the specialty pharmaceutical company’s stock worth $4,315,000 after buying an additional 321,290 shares during the last quarter. Bank of Montreal Can raised its position in BioDelivery Sciences International by 3.6% in the fourth quarter. Bank of Montreal Can now owns 829,056 shares of the specialty pharmaceutical company’s stock worth $3,971,000 after buying an additional 28,838 shares during the last quarter. Sei Investments Co. raised its position in BioDelivery Sciences International by 240.1% in the fourth quarter. Sei Investments Co. now owns 330,789 shares of the specialty pharmaceutical company’s stock worth $1,584,000 after buying an additional 233,519 shares during the last quarter. Finally, Russell Frank Co raised its position in BioDelivery Sciences International by 57.5% in the fourth quarter. Russell Frank Co now owns 1,080,051 shares of the specialty pharmaceutical company’s stock worth $5,151,000 after buying an additional 394,272 shares during the last quarter.

BioDelivery Sciences International, Inc is a specialty pharmaceutical company. The Company develops and commercializes, either on its own or in partnerships with third parties, applications of approved therapeutics to address unmet medical needs using drug delivery technologies. The Company develops pharmaceutical products aimed principally in the areas of pain management and addiction.

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