BioVie (NASDAQ:BIVI) Posts Earnings Results, Misses Estimates By $0.18 EPS

BioVie (NASDAQ:BIVI) announced its earnings results on Wednesday. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.18), FiscalAI reports.

Here are the key takeaways from BioVie’s conference call:

• BioVie reported favorable Phase II SUNRISE-PD results for bezisterim in early Parkinson’s disease, including statistically significant improvements in motor and non-motor measures among patients with higher baseline inflammation.
• Biomarker analyses showed broad changes in proteins linked to inflammation and neurodegeneration, including declines in neurofilament light and GFAP after an initial increase; management said these findings may support a disease-modifying effect.
• Bezisterim was described as well tolerated, with a safety profile similar to placebo, no serious or severe adverse events, and no deaths reported in the 57-patient trial.
• BioVie plans to seek an FDA end-of-Phase II meeting and propose a Phase III study with a six-month symptomatic endpoint, likely focused on UPDRS Part III, followed by an additional 12 months to assess disease progression. However, the Phase II study was small and only three months long, and claims of disease modification remain unproven until a registrational trial is completed.
• The company expects long-COVID Phase II data within 30–60 days and plans to reactivate partnering discussions now that Parkinson’s data are available, while acknowledging that any accelerated approval or partnership outcome remains uncertain.

BioVie Stock Down 12.4%

Shares of BIVI traded down $0.19 on Friday, hitting $1.37. 851,168 shares of the stock traded hands, compared to its average volume of 1,075,832. The firm has a market capitalization of $10.31 million, a P/E ratio of -0.56 and a beta of 0.60. BioVie has a 1 year low of $0.82 and a 1 year high of $3.79. The stock’s 50 day moving average is $1.70 and its two-hundred day moving average is $1.49.

Analysts Set New Price Targets

A number of research firms have issued reports on BIVI. Wall Street Zen upgraded shares of BioVie to a “sell” rating in a report on Saturday, July 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioVie in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On BioVie

Several hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in BioVie in the fourth quarter valued at $25,000. NewEdge Advisors LLC boosted its stake in shares of BioVie by 283.7% during the 1st quarter. NewEdge Advisors LLC now owns 54,100 shares of the company’s stock worth $53,000 after acquiring an additional 40,000 shares in the last quarter. Jane Street Group LLC purchased a new position in BioVie in the 2nd quarter worth about $57,000. Two Sigma Investments LP acquired a new stake in shares of BioVie during the third quarter valued at approximately $62,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of BioVie in the third quarter valued at $63,000. 4.59% of the stock is currently owned by hedge funds and other institutional investors.

BioVie Company Profile

BioVie Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for chronic liver diseases and associated neurological complications. The company’s research and development efforts center on candidates designed to address serious unmet medical needs in hepatic encephalopathy and other liver‐related disorders. BioVie advances its pipeline through controlled clinical trials and regulatory interactions in North America.

The company’s lead product candidate, BIV201, is undergoing Phase 2 clinical evaluation for the treatment of hepatic encephalopathy, a life‐threatening condition marked by elevated neurotoxins in patients with advanced liver disease.