Back to top

Image: Bigstock

BioDelivery (BDSI) Beats Q4 Earnings Estimates, Stock Up

Read MoreHide Full Article

BioDelivery Sciences International, Inc. (BDSI - Free Report) recorded earnings of 10 cents per share in fourth-quarter 2020, beating the Zacks Consensus Estimate of 7 cents per share. The company had incurred a loss of 1 cent per share in the year-ago period.

The reported earnings include share-based compensation and certain other expenses. Excluding these items, adjusted earnings were 14 cents per share compared with earnings of 6 cents in the year-ago quarter.

Revenues totaled $42.2 million, up 33.5% from the year-ago period. Sales outpaced the Zacks Consensus Estimate of $38.75 million. The uptick was mainly driven by higher sales of Belbuca and Symproic.

BioDelivery’s shares were up 6.1%, following the earnings release. In the past year, shares of BioDelivery have increased 3.6% compared with the industry’s 14.5% increase.

Quarter in Detail

BioDelivery’s marketed portfolio includes Belbuca for chronic pain and Symproic for opioid-induced constipation.

Belbuca generated revenues of $35.6 million in the quarter, up 2.3% sequentially. On a year-over-year basis, the top line soared 25.8%. Sales of the drug have been witnessing a strong uptrend since 2018.

BioDelivery recorded Belbuca prescriptions of more than 119,000 in the quarter, representing prescription volume growth of 21% in the quarter.

Symproic sales in the fourth quarter were $3.7 million, up 5.7% sequentially and 35% year over year. Total Symproic prescriptions during the quarter were 19,000, which represented 10% growth from the prior-year period.

Belbuca and Symproic continued to gain market share. Both drugs hit an all-time high for prescription volume and market share during the fourth quarter.

Revenues from of Bunavail were $2.4 million in the fourth quarter, reflecting a portion of the sales returns reserves. Please note that the company discontinued commercialization of Bunvail in June 2020.

Product Royalty revenues in the fourth quarter were $0.5 million compared with $1.2 million in the year-ago period.

Operating expenses were down 10.4% year over year to $21.4 million.

Full-Year Results

BioDelivery reported revenues of $156.5 million, up 40.5% from the year-ago period. The company reported earnings of 26 cents per share against a loss of 18 cents per share incurred in the year-ago period.

2021 Guidance

BioDelivery issued guidance for revenues and operating expenses in 2021. The company expects total revenues in 2021 to be in the range of $170 - $180 million. The guidance considers the expected negative impact from the winter storms during the first quarter of 2021, which affected some of the company’s most productive territories.

The company expects Belbuca sales to be between $155 million and $165 million. Operating expense for 2021 is expected to be in the range of $115-$120 million.

Zacks Rank and Stocks to Consider

Currently, BioDelivery is a Zacks Rank #4 (Sell) stock.

Some better-ranked stocks in the biotech sector include ASLAN Pharmaceuticals Ltd. (ASLN - Free Report) , CytomX Therapeutics, Inc. (CTMX - Free Report) and Moderna, Inc. (MRNA - Free Report) , all carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

ASLAN Pharmaceuticals’ loss per share estimates have narrowed from 57 cents to 48 cents for 2021 in the past 30 days. The company delivered an earnings surprise of 18.49%, on average, in the last four quarters. The stock has surged 110.2% in the past year.

CytomX’s loss per share estimates have declined from $2.10 to $1.62 for 2021 in the past 30 days. The stock has risen 27.1% in the past year.

Moderna’s earnings per share estimates have moved up from $11.45 to $15.22 for 2021 in the past 30 days. The stock has surged 485.9% in the past year.

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>