It has been about a month since the last earnings report for BioDelivery Sciences International, Inc. . Shares have added about 16.7% in that time frame, outperforming the market.
Will the recent positive trend continue leading up to the stock's next earnings release, or is it due for a pullback? Before we dive into how investors and analysts have reacted of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
BioDelivery’s First Quarter Earnings Beat Estimates
BioDelivery Sciences reported earnings of $0.58 per share in the first quarter of 2017, which comfortably beat the Zacks Consensus Estimate of $0.09. The company had reported loss of $0.36 per share in the year-ago quarter.
Revenues, on the other hand, were $29.5 million in the reported quarter compared with $3 million a year ago. Revenues also surpassed the Zacks Consensus Estimate of $27 million.
Quarter in Detail
BioDelivery’s opioid-dependence drug, Bunavail, recorded 52.4% year-over-year increase in sales to $3.2 million. The increase in revenues can be attributed to $1.7 million recognized as sales for product shipped to wholesalers before Jan 2017. The company said that it is working to secure new managed contracts for Bunavail.
In the reported quarter, the company recorded the highest net sales revenue of $4.6 million for Belbuca since the product was launched a year ago. The company said the drug generated sufficient product revenue to offset the expense of the commercial business unit.
In the first quarter, research and development expenses decreased 50% to $2.7 million from the year-ago figure of $5.4 million. Selling, general and administrative expenses were up 1.5% year over year to $13.3 million.
In the reported quarter, BioDelivery received approval from the FDA for a supplemental new drug application (sNDA) for the label expansion of Bunavail. The company is looking to expand the label of Bunavail to include induction of buprenorphine treatment for opoid dependence.
During the same period, the FDA accepted the investigational new drug (IND) for sustained release buprenorphine injection, allowing the company to start its clinical development program.
How Have Estimates Been Moving Since Then?
Following the release, investors have witnessed a downward trend in fresh estimates. There have been two revisions higher for the current quarter compared to three lower.
VGM Scores
At this time, BioDelivery Sciences' stock has a poor Growth Score of 'F', however its momentum is doing a lot better with an 'A'. The stock was allocated a grade of 'D' on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of 'D'. If you aren't focused on one strategy, this score is the one you should be interested in.
The company's stock is suitable solely for momentum investors based on our style scores.
Outlook
Estimates have been broadly trending downward for the stock. The magnitude of this revision also indicates a downward shift. Notably, the stock has a Zacks Rank #3 (Hold). We expect in-line returns from the stock in the next few months.
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BioDelivery Sciences (BDSI) Up 16.7% Since Earnings Report: Can It Continue?
It has been about a month since the last earnings report for BioDelivery Sciences International, Inc. . Shares have added about 16.7% in that time frame, outperforming the market.
Will the recent positive trend continue leading up to the stock's next earnings release, or is it due for a pullback? Before we dive into how investors and analysts have reacted of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
BioDelivery’s First Quarter Earnings Beat Estimates
BioDelivery Sciences reported earnings of $0.58 per share in the first quarter of 2017, which comfortably beat the Zacks Consensus Estimate of $0.09. The company had reported loss of $0.36 per share in the year-ago quarter.
Revenues, on the other hand, were $29.5 million in the reported quarter compared with $3 million a year ago. Revenues also surpassed the Zacks Consensus Estimate of $27 million.
Quarter in Detail
BioDelivery’s opioid-dependence drug, Bunavail, recorded 52.4% year-over-year increase in sales to $3.2 million. The increase in revenues can be attributed to $1.7 million recognized as sales for product shipped to wholesalers before Jan 2017. The company said that it is working to secure new managed contracts for Bunavail.
In the reported quarter, the company recorded the highest net sales revenue of $4.6 million for Belbuca since the product was launched a year ago. The company said the drug generated sufficient product revenue to offset the expense of the commercial business unit.
In the first quarter, research and development expenses decreased 50% to $2.7 million from the year-ago figure of $5.4 million. Selling, general and administrative expenses were up 1.5% year over year to $13.3 million.
In the reported quarter, BioDelivery received approval from the FDA for a supplemental new drug application (sNDA) for the label expansion of Bunavail. The company is looking to expand the label of Bunavail to include induction of buprenorphine treatment for opoid dependence.
During the same period, the FDA accepted the investigational new drug (IND) for sustained release buprenorphine injection, allowing the company to start its clinical development program.
How Have Estimates Been Moving Since Then?
Following the release, investors have witnessed a downward trend in fresh estimates. There have been two revisions higher for the current quarter compared to three lower.
BioDelivery Sciences International, Inc. Price and Consensus
BioDelivery Sciences International, Inc. Price and Consensus | BioDelivery Sciences International, Inc. Quote
VGM Scores
At this time, BioDelivery Sciences' stock has a poor Growth Score of 'F', however its momentum is doing a lot better with an 'A'. The stock was allocated a grade of 'D' on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of 'D'. If you aren't focused on one strategy, this score is the one you should be interested in.
The company's stock is suitable solely for momentum investors based on our style scores.
Outlook
Estimates have been broadly trending downward for the stock. The magnitude of this revision also indicates a downward shift. Notably, the stock has a Zacks Rank #3 (Hold). We expect in-line returns from the stock in the next few months.