BioCryst Pharmaceuticals (NASDAQ:BCRX) Cut to Sector Perform at Royal Bank Of Canada

Royal Bank Of Canada cut shares of BioCryst Pharmaceuticals (NASDAQ:BCRX) from an outperform rating to a sector perform rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The firm currently has $11.00 target price on the biotechnology company’s stock, down from their prior target price of $13.00.

A number of other brokerages also recently commented on BCRX. Wedbush lowered their target price on shares of BioCryst Pharmaceuticals from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of BioCryst Pharmaceuticals in a research note on Tuesday, June 30th. Wall Street Zen downgraded BioCryst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price objective on shares of BioCryst Pharmaceuticals in a research report on Tuesday, September 8th. Finally, Cantor Fitzgerald increased their price objective on BioCryst Pharmaceuticals from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.40.

BioCryst Pharmaceuticals Stock Down 2.1%

Shares of BioCryst Pharmaceuticals stock opened at $8.12 on Thursday. BioCryst Pharmaceuticals has a 52-week low of $6.00 and a 52-week high of $11.22. The company has a 50 day moving average of $9.65 and a 200 day moving average of $9.23. The company has a market capitalization of $2.07 billion, a P/E ratio of -5.41 and a beta of 0.57.

BioCryst Pharmaceuticals (NASDAQ:BCRX) last announced its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.15. BioCryst Pharmaceuticals had a negative net margin of 40.90% and a negative return on equity of 86.89%. The company had revenue of $218.25 million for the quarter, compared to the consensus estimate of $183.28 million. During the same period in the prior year, the firm posted $0.15 EPS. The company’s quarterly revenue was up 33.6% compared to the same quarter last year. As a group, research analysts anticipate that BioCryst Pharmaceuticals will post -2.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in BioCryst Pharmaceuticals by 2.4% during the 1st quarter. Royal Bank of Canada now owns 63,463 shares of the biotechnology company’s stock valued at $476,000 after acquiring an additional 1,458 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of BioCryst Pharmaceuticals by 13.8% in the fourth quarter. Cetera Investment Advisers now owns 12,330 shares of the biotechnology company’s stock valued at $96,000 after purchasing an additional 1,494 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of BioCryst Pharmaceuticals by 7.4% in the second quarter. Captrust Financial Advisors now owns 22,105 shares of the biotechnology company’s stock valued at $198,000 after purchasing an additional 1,527 shares in the last quarter. Legato Capital Management LLC grew its position in shares of BioCryst Pharmaceuticals by 10.0% in the fourth quarter. Legato Capital Management LLC now owns 23,949 shares of the biotechnology company’s stock valued at $187,000 after purchasing an additional 2,172 shares during the last quarter. Finally, Creative Planning grew its position in shares of BioCryst Pharmaceuticals by 2.6% in the third quarter. Creative Planning now owns 88,477 shares of the biotechnology company’s stock valued at $672,000 after purchasing an additional 2,280 shares during the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

About BioCryst Pharmaceuticals

BioCryst Pharmaceuticals, Inc is a biotechnology company that discovers, develops and commercializes orally administered medicines for rare diseases. The company focuses on treatments that address significant unmet medical needs, using expertise in small-molecule drug discovery and development.

BioCryst’s primary commercial product is ORLADEYO (berotralstat), an oral, once-daily medication used to prevent hereditary angioedema attacks in adults and pediatric patients ages 12 and older.