UPDATE: Piper Jaffray Upgrades BioDelivery Sciences International to Overweight on Checks
Piper Jaffray upgraded BioDelivery Sciences International (NASDAQ: BDSI) from Neutral to Overweight and raised the price target from $5.00 to $8.00.
Piper Jaffray noted, "We continue to view BBCP as a valueadded offering for pain and expect the Phase III studies to prove positive based on revised trial designs. Most encouraging, in our view, was bioequivalence data for Bunavail, suggesting possible superiority to Suboxone. As a result of this and other diligence, we are adjusting our model to reflect the recently approved Suboxone generic but also a potential BNX advantage based on these data. Bunavail's NDA filing is planned for July and both BBCP Phase IIIs readout by YE13 or early 2014."
BioDelivery Sciences International closed at $4.05 on Friday.
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