BioCryst Pharmaceuticals (NASDAQ:BCRX) Shares Up 3.3% – Here’s Why

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX)’s stock price traded up 3.3% during trading on Wednesday. The stock traded as high as $8.15 and last traded at $8.2150. 393,314 shares were traded during trading, a decline of 92% from the average daily volume of 4,863,441 shares. The stock had previously closed at $7.95.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BCRX shares. Weiss Ratings lowered shares of BioCryst Pharmaceuticals from a “hold (c)” rating to a “sell (d-)” rating in a report on Tuesday, September 22nd. Royal Bank Of Canada lowered shares of BioCryst Pharmaceuticals from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $13.00 to $11.00 in a research note on Thursday, September 10th. Wedbush dropped their price objective on BioCryst Pharmaceuticals from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price target on shares of BioCryst Pharmaceuticals in a report on Tuesday, September 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of BioCryst Pharmaceuticals from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, September 30th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, BioCryst Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $20.50.

BioCryst Pharmaceuticals Stock Up 4.6%

The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -5.54 and a beta of 0.55. The firm has a 50 day moving average of $9.17 and a two-hundred day moving average of $9.22.

BioCryst Pharmaceuticals (NASDAQ:BCRX) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.15 by $0.15. BioCryst Pharmaceuticals had a negative return on equity of 86.89% and a negative net margin of 40.90%.The firm had revenue of $218.25 million during the quarter, compared to the consensus estimate of $183.28 million. During the same period last year, the company earned $0.15 earnings per share. The business’s quarterly revenue was up 33.6% on a year-over-year basis. Sell-side analysts forecast that BioCryst Pharmaceuticals, Inc. will post -2.28 EPS for the current fiscal year.

Hedge Funds Weigh In On BioCryst Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Nykredit A S purchased a new stake in shares of BioCryst Pharmaceuticals in the second quarter worth approximately $27,000. IFP Advisors Inc grew its position in BioCryst Pharmaceuticals by 2,515.3% during the second quarter. IFP Advisors Inc now owns 3,243 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 3,119 shares during the period. Allworth Financial LP purchased a new stake in shares of BioCryst Pharmaceuticals during the 2nd quarter worth approximately $52,000. Pallas Capital Advisors LLC bought a new stake in shares of BioCryst Pharmaceuticals in the second quarter valued at $101,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in BioCryst Pharmaceuticals during the second quarter valued at about $103,000. 85.88% of the stock is owned by institutional investors and hedge funds.

About BioCryst Pharmaceuticals

BioCryst Pharmaceuticals, Inc is a biotechnology company that discovers, develops and commercializes oral medicines for rare diseases. The company focuses on small-molecule therapies designed to address diseases with significant unmet medical needs, including hereditary angioedema and complement-mediated disorders.

BioCryst’s primary commercial product is Orladeyo (berotralstat), an oral plasma kallikrein inhibitor used to prevent attacks of hereditary angioedema in adults and pediatric patients.