Shares of BioDelivery Sciences Fall Below Previous 52-Week Low
BioDelivery Sciences (NASDAQ:BDSI) traded at a new 52-week low today of $1.91. Approximately 328,000 shares have changed hands today, as compared to an average 30-day volume of 1.2 million shares.
BioDelivery Sciences International, Inc. is a development-stage biotechnology company that is developing and seeking to commercialize a drug delivery technology. The Company's technology is designed for a broad base of pharmaceuticals, vaccines, and over-the-counter drugs. Biodelivery's technology encapsulates the selected drug in a cochleate cylinder.
BioDelivery Sciences (NASDAQ:BDSI) has potential upside of 633.5% based on a current price of $1.95 and analysts' consensus price target of $14.29. The stock should run into initial resistance at its 50-day moving average (MA) of $3.43 and subsequent resistance at its 200-day MA of $5.13.
Over the past year, BioDelivery Scienceshas traded in a range of $1.91 to $9.91 and are now at $1.95. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.6% while the 200-day MA has slid 2.5%.
SmarTrend recommended that its subscribers protect gains by selling shares of BioDelivery Sciences on May 5th, 2016 by issuing a Downtrend alert when the shares were trading at $2.80. Since that call, shares of BioDelivery Sciences have fallen 30.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: 52 week high/lows biodelivery sciences