Alkeon Capital Management LLC Cuts Stock Holdings in BioCryst Pharmaceuticals, Inc. $BCRX

Alkeon Capital Management LLC lowered its stake in BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) by 20.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,714,021 shares of the biotechnology company’s stock after selling 1,500,000 shares during the quarter. Alkeon Capital Management LLC owned about 2.72% of BioCryst Pharmaceuticals worth $51,198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. California State Teachers Retirement System increased its holdings in shares of BioCryst Pharmaceuticals by 1.8% in the second quarter. California State Teachers Retirement System now owns 182,456 shares of the biotechnology company’s stock worth $1,635,000 after purchasing an additional 3,313 shares during the last quarter. Raymond James Financial Inc. increased its stake in BioCryst Pharmaceuticals by 657.8% in the 2nd quarter. Raymond James Financial Inc. now owns 88,492 shares of the biotechnology company’s stock worth $793,000 after acquiring an additional 76,815 shares during the last quarter. Banco BTG Pactual S.A. purchased a new stake in shares of BioCryst Pharmaceuticals during the 2nd quarter worth approximately $293,000. Canada Pension Plan Investment Board raised its holdings in shares of BioCryst Pharmaceuticals by 4,696.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 510,341 shares of the biotechnology company’s stock worth $4,573,000 after acquiring an additional 499,700 shares in the last quarter. Finally, Occudo Quantitative Strategies LP bought a new position in shares of BioCryst Pharmaceuticals during the 2nd quarter valued at approximately $231,000. Institutional investors own 85.88% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BCRX. Weiss Ratings restated a “sell (e+)” rating on shares of BioCryst Pharmaceuticals in a research report on Tuesday, December 2nd. Zacks Research cut shares of BioCryst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. TD Cowen assumed coverage on shares of BioCryst Pharmaceuticals in a report on Wednesday, October 15th. They issued a “buy” rating and a $30.00 target price on the stock. Evercore ISI reaffirmed an “in-line” rating and issued a $8.00 price target on shares of BioCryst Pharmaceuticals in a report on Wednesday, October 1st. Finally, Needham & Company LLC reduced their price objective on BioCryst Pharmaceuticals from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. Ten investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.33.

Insiders Place Their Bets

In related news, insider Alane P. Barnes sold 19,770 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $7.65, for a total value of $151,240.50. Following the transaction, the insider directly owned 345,476 shares of the company’s stock, valued at $2,642,891.40. This represents a 5.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have sold 161,680 shares of company stock worth $1,164,401. 5.10% of the stock is currently owned by insiders.

BioCryst Pharmaceuticals Price Performance

BCRX stock opened at $7.57 on Friday. The firm’s 50-day moving average is $7.15 and its 200 day moving average is $8.25. BioCryst Pharmaceuticals, Inc. has a 12 month low of $6.00 and a 12 month high of $11.31. The company has a market capitalization of $1.59 billion, a PE ratio of -151.40 and a beta of 0.91.

BioCryst Pharmaceuticals (NASDAQ:BCRX) last released its quarterly earnings data on Monday, November 3rd. The biotechnology company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $159.40 million during the quarter, compared to analysts’ expectations of $162.91 million. BioCryst Pharmaceuticals had a negative return on equity of 4.24% and a negative net margin of 1.46%.The firm’s revenue was up 36.1% compared to the same quarter last year. During the same period last year, the company earned ($0.07) earnings per share. Sell-side analysts forecast that BioCryst Pharmaceuticals, Inc. will post -0.36 EPS for the current fiscal year.

About BioCryst Pharmaceuticals

BioCryst Pharmaceuticals, Inc, a biotechnology company, develops oral small-molecule and protein therapeutics to treat rare diseases. The company markets peramivir injection, an intravenous neuraminidase inhibitor for the treatment of acute uncomplicated influenza under the RAPIVAB, RAPIACTA, and PERAMIFLU names; and ORLADEYO, an oral serine protease inhibitor to treat hereditary angioedema.