Why Shares of BioDelivery Sciences International Jumped 12.2% on Monday
During a trading session in which most of the Nasdaq Composite and S&P 500 were headed downward, shares of BioDelivery Sciences International (NASDAQ: BDSI) rose by 12.2% on Monday. The specialty pharmaceutical company's stock closed at $3.36 a share on Friday and opened at that same price on Monday, but rose to $3.77 early in the afternoon. The company has a small market cap of $362 million and its stock has seen a 52-week low of $2.50 and a 52-week high of $4.68. Shares are down more than 14% over the past year but up more than 16% in 2022.
The move Friday was just a continuation of an upswing that began last week when BioDelivery Sciences released updated guidance before the market opened on Thursday. That day, it jumped from $3.04 to $3.35. On Friday, the stock rose from its opening price of $3.15 to a high of almost $3.55.
In the company's updated guidance, it said that it expected yearly revenue between $165 million and $167 million, up from earlier guidance of $162 million and $167 million. At the high end, that means a 6.7% rise year over year. and even at the low end, it represents a climb of 5.5% over 2020.
Source Fool.com
