BioDelivery Sciences price target raised to $13 from $9 at Ladenburg Ladenburg raised its price target on shares of BioDelivery Sciences to $13 from $9 following positive top-line data for one of its BEMA buprenorphine Phase III trials. Ladenburg believes these results portend a high probability for positive results from another ongoing Phase 3 study of the drug in another set of patients and the firm maintains a Buy rating on shares.
On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: Aviva (AV) upgraded to Outperform from Market Perform at Bernstein... Basic Energy (BAS) upgraded to Buy from Accumulate at Tudor Pickering... BioDelivery Sciences (BDSI) upgraded to Buy from Neutral at Roth Capital... CVS Health (CVS) upgraded at SunTrust... CVS Health (CVS) upgraded to Buy from Neutral at SunTrust... EPR Properties (EPR) upgraded to Hold from Underweight at KeyBanc... Ensco (ESV) upgraded to Accumulate from Hold at Tudor Pickering... First Marblehead (FMD) upgraded to Buy from Neutral at Compass Point... GOL Linhas (GOL) upgraded to Outperform from Neutral at Credit Suisse... Medical Properties Trust (MPW) upgraded to Hold from Underweight at KeyBanc... NVIDIA (NVDA) upgraded to Neutral from Underperform at BofA/Merrill... NewStar Financial (NEWS) upgraded to Buy from Neutral at Sidoti... Orange SA (ORAN) upgraded to Buy from Hold at Deutsche Bank... Parker Drilling (PKD) upgraded to Buy from Accumulate at Tudor Pickering... Potash (POT) upgraded to Buy from Neutral at UBS... Teekay Tankers (TNK) upgraded to Buy from Neutral at BofA/Merrill... Tidewater (TDW) upgraded to Accumulate from Hold at Tudor Pickering... Unum Group (UNM) upgraded to Buy from Neutral at Compass Point... WPP PLC (WPPGY) upgraded to Buy from Neutral at Citigroup... Weatherford (WFT) upgraded to Buy from Hold at Tudor Pickering.
BioDelivery Sciences completes randomization in trial of clonidine topical gel BioDelivery Sciences announced that it has completed the randomization of all patients in BDSI's ongoing initial pivotal Phase 3 clinical trial for Clonidine Topical Gel for the treatment of painful diabetic neuropathy. BDSI anticipates that topline results of the study will be available by the end of March 2015. The Phase 3 trial is a multicenter, randomized, double-blind, placebo-controlled study to determine the efficacy and safety of Clonidine Topical Gel in the treatment of pain associated with PDN. In the trial, known as the RHAPSODY Study, subjects were randomized to receive either Clonidine Topical Gel or a placebo gel. Two hundred and sixty three adult subjects were randomized into the 12 week double-blind treatment phase of the study. This is the first of two pivotal trials that would be required for submission of a New Drug Application to the U.S. Food and Drug Administration. FDA has granted Fast Track designation for the program, which recognizes the need of developing new therapies for this serious condition. BDSI plans to begin the second Phase 3 study during the first quarter of 2015.