BioCryst Pharmaceuticals (NASDAQ:BCRX) Shares Gap Down – Here’s What Happened

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) shares gapped down prior to trading on Tuesday . The stock had previously closed at $9.96, but opened at $9.12. BioCryst Pharmaceuticals shares last traded at $9.0320, with a volume of 1,651,086 shares trading hands.

Wall Street Analysts Forecast Growth

BCRX has been the topic of several research analyst reports. Cantor Fitzgerald raised their price objective on BioCryst Pharmaceuticals from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 30th. HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of BioCryst Pharmaceuticals in a report on Tuesday, June 30th. JPMorgan Chase & Co. initiated coverage on BioCryst Pharmaceuticals in a research report on Monday, July 13th. They set a “neutral” rating and a $12.00 price target on the stock. Wall Street Zen cut BioCryst Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Finally, Royal Bank Of Canada cut their price objective on BioCryst Pharmaceuticals from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, BioCryst Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $20.60.

BioCryst Pharmaceuticals Stock Down 8.9%

The business’s fifty day moving average is $9.75 and its 200 day moving average is $9.20. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -6.06 and a beta of 0.57.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in BioCryst Pharmaceuticals in the 2nd quarter valued at approximately $238,930,000. RA Capital Management L.P. acquired a new position in BioCryst Pharmaceuticals during the 4th quarter worth approximately $123,452,000. Jupiter Topco LLC bought a new position in shares of BioCryst Pharmaceuticals during the 2nd quarter worth approximately $95,268,000. Deerfield Management Company L.P. grew its stake in shares of BioCryst Pharmaceuticals by 159.4% during the 3rd quarter. Deerfield Management Company L.P. now owns 12,169,000 shares of the biotechnology company’s stock worth $92,363,000 after acquiring an additional 7,477,000 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of BioCryst Pharmaceuticals by 7,807.2% during the 4th quarter. Janus Henderson Group PLC now owns 7,404,386 shares of the biotechnology company’s stock worth $57,791,000 after acquiring an additional 7,310,745 shares in the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.

About BioCryst Pharmaceuticals

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.