BioCryst Pharmaceuticals (NASDAQ:BCRX) Shares Gap Up Following Strong Earnings

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRXGet Free Report) shares gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $7.55, but opened at $8.20. BioCryst Pharmaceuticals shares last traded at $7.8050, with a volume of 1,432,490 shares changing hands.

The biotechnology company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $1.05. The company had revenue of $163.28 million during the quarter, compared to the consensus estimate of $151.32 million. BioCryst Pharmaceuticals had a negative net margin of 1.46% and a negative return on equity of 4.24%. The firm’s revenue was up 209.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.13) EPS.

Key BioCryst Pharmaceuticals News

Here are the key news stories impacting BioCryst Pharmaceuticals this week:

Analysts Set New Price Targets

A number of brokerages recently weighed in on BCRX. HC Wainwright boosted their target price on BioCryst Pharmaceuticals from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Needham & Company LLC lowered their price objective on shares of BioCryst Pharmaceuticals from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Royal Bank Of Canada reduced their target price on shares of BioCryst Pharmaceuticals from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. Zacks Research cut shares of BioCryst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of BioCryst Pharmaceuticals in a research report on Monday, December 29th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BioCryst Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $19.64.

Read Our Latest Analysis on BCRX

Insider Transactions at BioCryst Pharmaceuticals

In related news, insider Alane P. Barnes sold 91,004 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $7.10, for a total transaction of $646,128.40. Following the transaction, the insider owned 416,152 shares in the company, valued at $2,954,679.20. The trade was a 17.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 183,453 shares of company stock worth $1,330,965. 5.10% of the stock is owned by insiders.

Hedge Funds Weigh In On BioCryst Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. Invesco Ltd. lifted its stake in BioCryst Pharmaceuticals by 40.8% in the fourth quarter. Invesco Ltd. now owns 1,354,897 shares of the biotechnology company’s stock worth $10,568,000 after acquiring an additional 392,521 shares during the period. Mackenzie Financial Corp raised its holdings in BioCryst Pharmaceuticals by 16.6% in the 4th quarter. Mackenzie Financial Corp now owns 150,728 shares of the biotechnology company’s stock worth $1,152,000 after purchasing an additional 21,411 shares in the last quarter. NewEdge Advisors LLC bought a new position in BioCryst Pharmaceuticals in the 4th quarter worth $390,000. XTX Topco Ltd purchased a new stake in shares of BioCryst Pharmaceuticals in the 4th quarter worth about $133,000. Finally, Vestal Point Capital LP bought a new stake in shares of BioCryst Pharmaceuticals during the 4th quarter valued at about $17,550,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

BioCryst Pharmaceuticals Stock Up 4.6%

The company has a market cap of $1.66 billion, a PE ratio of -158.00 and a beta of 0.83. The firm’s 50-day moving average is $7.11 and its 200-day moving average is $7.40.

BioCryst Pharmaceuticals Company Profile

(Get Free Report)

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.

Further Reading

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