BioDelivery Sciences International, Inc.’s Stock Formed A Several Months Bearish Wedge Down Chart Pattern

The stock of BioDelivery Sciences International, Inc. (BDSI) formed a down wedge with $3.53 target or 11.00% below today’s $3.97 share price. The 9 months wedge indicates high risk for the $226.23M company. If the $3.53 price target is reached, the company will be worth $24.89M less. Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high. The stock decreased 2.93% or $0.12 during the last trading session, hitting $3.97. About 896,866 shares traded hands. BioDelivery Sciences International, Inc. (NASDAQ:BDSI) has declined 51.88% since July 28, 2015 and is downtrending. It has underperformed by 46.78% the S&P500.

Analysts await BioDelivery Sciences International, Inc. (NASDAQ:BDSI) to reports earnings on March, 21. They expect $0.55 EPS, up 207.84% or $1.06 from last year’s $-0.51 per share. BDSI’s profit will be $31.34M for 1.80 P/E if the $0.55 EPS becomes reality. After $-0.39 actual EPS reported by BioDelivery Sciences International, Inc. for the previous quarter, Wall Street now forecasts -241.03% EPS growth.

Out of 8 analysts covering BioDelivery Sciences International (NASDAQ:BDSI), 7 rate it “Buy”, 0 “Sell”, while 1 “Hold”. This means 88% are positive. BioDelivery Sciences International was the topic in 5 analyst reports since August 16, 2015 according to StockzIntelligence Inc. Piper Jaffray initiated the stock on February 8 with “Overweight” rating.

According to Zacks Investment Research, “BioDelivery Sciences International is a development-stage biotechnology company that is developing and seeking to commercialize a drug delivery technology designed for a potentially broad base of pharmaceuticals, vaccines and over-the-counter drugs. In general, a drug delivery technology refers to any process, substance, or combination thereof, that delivers drugs into the body.”

The institutional sentiment decreased to 1.08 in 2015 Q3. Its down 0.47, from 1.55 in 2015Q2. The ratio dropped, as 31 funds sold all BioDelivery Sciences International, Inc. shares owned while 35 reduced positions. 16 funds bought stakes while 55 increased positions. They now own 50.45 million shares or 21.65% more from 41.47 million shares in 2015Q2.

Foresite Capital Management I Llc holds 29.31% of its portfolio in BioDelivery Sciences International, Inc. for 494,468 shares. Armistice Capital Llc owns 1.48 million shares or 2.81% of their US portfolio. Moreover, 1492 Capital Management Llc has 1.97% invested in the company for 497,469 shares. The California-based Foresite Capital Management Ii Llc has invested 1.49% in the stock. Broadfin Capital Llc, a New York-based fund reported 4.74 million shares.

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