Shares of BioCryst Pharmaceuticals Inc. (NASDAQ:BCRX) dropped 4.2% during mid-day trading on Wednesday . The stock traded as low as $2.90 and last traded at $2.94, with a volume of 407,607 shares traded. The stock had previously closed at $3.07.

BCRX has been the subject of a number of analyst reports. Zacks Investment Research lowered BioCryst Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, May 9th. Jefferies Group raised BioCryst Pharmaceuticals from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Wednesday, June 1st. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of BioCryst Pharmaceuticals in a research note on Monday, May 9th. Finally, FBR & Co reissued a “buy” rating and set a $6.00 price objective on shares of BioCryst Pharmaceuticals in a research note on Wednesday, July 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $9.70.

The company has a 50 day moving average price of $3.12 and a 200 day moving average price of $3.91. The firm’s market capitalization is $214.44 million.

BioCryst Pharmaceuticals (NASDAQ:BCRX) last released its quarterly earnings data on Thursday, May 5th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by $0.08. During the same quarter last year, the firm posted ($0.21) earnings per share. The business earned $4.82 million during the quarter, compared to analyst estimates of $5.42 million. BioCryst Pharmaceuticals’s revenue was down 29.4% on a year-over-year basis. On average, equities research analysts expect that BioCryst Pharmaceuticals Inc. will post ($1.06) EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in BCRX. Morgan Stanley increased its stake in BioCryst Pharmaceuticals by 13.9% in the fourth quarter. Morgan Stanley now owns 103,804 shares of the biotechnology company’s stock worth $1,071,000 after buying an additional 12,646 shares during the last quarter. Jennison Associates LLC increased its stake in BioCryst Pharmaceuticals by 1.8% in the fourth quarter. Jennison Associates LLC now owns 1,348,563 shares of the biotechnology company’s stock worth $13,917,000 after buying an additional 24,014 shares during the last quarter. Finally, Globeflex Capital L P purchased a new stake in BioCryst Pharmaceuticals during the fourth quarter worth about $1,241,000.

BioCryst Pharmaceuticals, Inc (BioCryst) is a biotechnology company. The Company designs, optimizes and develops small molecule drugs that block enzymes involved in the pathogenesis of diseases. The Company focuses on the treatment rare diseases. The Company uses X-ray crystallography, computer modeling of molecular structures and advanced chemistry techniques to focus on the three-dimensional molecular structure and active site characteristics of the enzymes that control cellular biology.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.