BioCryst Pharmaceuticals’ (BCRX) Buy Rating Reaffirmed at Needham & Company LLC

BioCryst Pharmaceuticals (NASDAQ:BCRX)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They presently have a $16.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s price target indicates a potential upside of 72.51% from the stock’s current price.

Other analysts have also issued research reports about the company. Royal Bank Of Canada decreased their price target on BioCryst Pharmaceuticals from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. JPMorgan Chase & Co. started coverage on shares of BioCryst Pharmaceuticals in a research note on Monday, July 13th. They set a “neutral” rating and a $12.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of BioCryst Pharmaceuticals in a research report on Thursday, August 27th. HC Wainwright reissued a “buy” rating and issued a $32.00 target price on shares of BioCryst Pharmaceuticals in a research note on Tuesday, June 30th. Finally, 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 report on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.60.

BioCryst Pharmaceuticals Stock Performance

Shares of BCRX traded down $0.69 during midday trading on Tuesday, hitting $9.28. 6,755,851 shares of the company traded hands, compared to its average volume of 4,759,003. The firm has a 50 day moving average of $9.75 and a 200-day moving average of $9.20. BioCryst Pharmaceuticals has a 52 week low of $6.00 and a 52 week high of $11.22. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -6.16 and a beta of 0.57.

BioCryst Pharmaceuticals (NASDAQ:BCRX) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $0.30 earnings per share 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 firm had revenue of $218.25 million during the quarter, compared to analyst estimates of $183.28 million. During the same period last year, the firm posted $0.15 earnings per share. BioCryst Pharmaceuticals’s revenue for the quarter was up 33.6% compared to the same quarter last year. Sell-side analysts predict that BioCryst Pharmaceuticals will post -2.25 earnings per share for the current fiscal year.

Institutional Trading of BioCryst Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of BioCryst Pharmaceuticals during the second quarter worth $238,930,000. RA Capital Management L.P. bought a new position in shares of BioCryst Pharmaceuticals in the fourth quarter worth about $123,452,000. Deerfield Management Company L.P. grew its holdings in shares of BioCryst Pharmaceuticals by 159.4% in the third quarter. Deerfield Management Company L.P. now owns 12,169,000 shares of the biotechnology company’s stock worth $92,363,000 after purchasing an additional 7,477,000 shares during the last quarter. State Street Corp increased its stake in BioCryst Pharmaceuticals by 12.9% in the 4th quarter. State Street Corp now owns 11,073,211 shares of the biotechnology company’s stock worth $86,371,000 after buying an additional 1,265,773 shares during the period. Finally, Jupiter Topco LLC bought a new stake in BioCryst Pharmaceuticals during the 2nd quarter valued at about $95,268,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

BioCryst Pharmaceuticals Company Profile

BioCryst Pharmaceuticals, Inc is a clinical‐stage biotechnology company headquartered in Durham, North Carolina, that focuses on the discovery and development of novel, oral small‐molecule medicines for rare and serious diseases. Since its founding in 1986, the company has leveraged structure‐based drug design to advance a pipeline of targeted therapeutics designed to address underlying disease mechanisms rather than just treat symptoms.

The company’s first commercial product, Orladeyo (berotralstat), is an oral kallikrein inhibitor approved for the prophylactic treatment of hereditary angioedema (HAE) in both the United States and Europe.