BioCryst Pharmaceuticals (NASDAQ:BCRX) Sets New 52-Week High After Analyst Upgrade

Shares of BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) reached a new 52-week high during mid-day trading on Tuesday after Royal Bank Of Canada raised their price target on the stock from $13.00 to $14.00. Royal Bank Of Canada currently has an outperform rating on the stock. BioCryst Pharmaceuticals traded as high as $11.03 and last traded at $10.99, with a volume of 10180267 shares trading hands. The stock had previously closed at $10.17.

BCRX has been the subject of a number of other reports. HC Wainwright reissued a “buy” rating and issued a $32.00 price target on shares of BioCryst Pharmaceuticals in a research report on Tuesday, June 30th. Citizens Jmp upped their target price on shares of BioCryst Pharmaceuticals from $25.00 to $28.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 7th. Wedbush lowered their target price on shares of BioCryst Pharmaceuticals from $22.00 to $21.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Needham & Company LLC decreased their price objective on shares of BioCryst Pharmaceuticals from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, Cantor Fitzgerald boosted their target price on BioCryst Pharmaceuticals from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.78.

Institutional Investors Weigh In On BioCryst Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in BioCryst Pharmaceuticals by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 22,273,375 shares of the biotechnology company’s stock worth $173,732,000 after acquiring an additional 482,494 shares during the last quarter. RA Capital Management L.P. purchased a new position in shares of BioCryst Pharmaceuticals during the fourth quarter worth about $123,452,000. Deerfield Management Company L.P. increased its position 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 position in shares of BioCryst Pharmaceuticals by 12.9% in the fourth quarter. State Street Corp now owns 11,073,211 shares of the biotechnology company’s stock worth $86,371,000 after purchasing an additional 1,265,773 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in BioCryst Pharmaceuticals by 20.3% in the first quarter. Janus Henderson Group PLC now owns 8,908,506 shares of the biotechnology company’s stock valued at $84,854,000 after purchasing an additional 1,504,120 shares in the last quarter. 85.88% of the stock is currently owned by institutional investors.

BioCryst Pharmaceuticals Stock Performance

The stock’s 50 day simple moving average is $8.99 and its 200 day simple moving average is $8.35. The firm has a market cap of $2.79 billion, a PE ratio of -6.17 and a beta of 0.55.

BioCryst Pharmaceuticals (NASDAQ:BCRX) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported ($2.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($3.04). BioCryst Pharmaceuticals had a negative return on equity of 76.36% and a negative net margin of 51.71%.The company had revenue of $156.41 million for the quarter, compared to the consensus estimate of $151.12 million. During the same period in the prior year, the firm posted $0.20 earnings per share. The business’s revenue was up 7.5% on a year-over-year basis. As a group, analysts anticipate that BioCryst Pharmaceuticals, Inc. will post -2.63 earnings per share for the current year.

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.