BioCryst Pharmaceuticals (NASDAQ:BCRX) Given New $13.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised BioCryst Pharmaceuticals’ price target from $12 to $13 while maintaining a neutral rating, implying approximately 55% upside from the stock’s $8.39 trading price.
• Analyst sentiment is broadly positive but mixed: BioCryst has a “Moderate Buy” consensus rating and an average price target of $20.50, based on seven Buy, four Hold, and one Sell rating.
• The company reported quarterly revenue of $218.25 million and adjusted earnings per share of $0.30, beating analyst expectations, while institutional investors own approximately 85.88% of its shares.

BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $12.00 to $13.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the biotechnology company's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 55.00% from the company's current price.

BCRX has been the topic of a number of other reports. Wedbush cut their price target on shares of BioCryst Pharmaceuticals from $21.00 to $20.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. Royal Bank Of Canada lowered shares of BioCryst Pharmaceuticals from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $13.00 to $11.00 in a research report on Thursday, September 10th. HC Wainwright reiterated a "buy" rating and issued a $32.00 price target on shares of BioCryst Pharmaceuticals in a report on Tuesday, June 30th. Cantor Fitzgerald lifted their target price on BioCryst Pharmaceuticals from $27.00 to $29.00 and gave the company an "overweight" rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen cut BioCryst Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 29th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $20.50.

BioCryst Pharmaceuticals Price Performance

Shares of NASDAQ:BCRX traded up $0.12 during trading hours on Wednesday, hitting $8.39. 9,559,254 shares of the company's stock traded hands, compared to its average volume of 4,858,194. The business has a fifty day moving average price of $9.31 and a 200-day moving average price of $9.25. BioCryst Pharmaceuticals has a 1 year low of $6.00 and a 1 year high of $11.22. The firm has a market capitalization of $2.14 billion, a P/E ratio of -5.58 and a beta of 0.57.

BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $218.25 million during the quarter, compared to analysts' expectations of $183.28 million. During the same quarter in the previous year, the business earned $0.15 EPS. BioCryst Pharmaceuticals's revenue was up 33.6% compared to the same quarter last year. As a group, equities analysts predict that BioCryst Pharmaceuticals will post -2.25 earnings per share for the current year.

Hedge Funds Weigh In On BioCryst Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of BioCryst Pharmaceuticals during the second quarter valued at about $238,930,000. Jupiter Topco LLC bought a new position in shares of BioCryst Pharmaceuticals during the 2nd quarter worth approximately $95,268,000. Janus Henderson Group PLC lifted its position in BioCryst Pharmaceuticals by 20.3% during 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 acquiring an additional 1,504,120 shares during the last quarter. Perceptive Advisors LLC lifted its position in BioCryst Pharmaceuticals by 135.1% during the first quarter. Perceptive Advisors LLC now owns 7,434,033 shares of the biotechnology company's stock valued at $70,772,000 after acquiring an additional 4,271,504 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in BioCryst Pharmaceuticals by 231.6% during the first quarter. Bank of America Corp DE now owns 5,091,765 shares of the biotechnology company's stock valued at $48,474,000 after acquiring an additional 3,556,208 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company's stock.

About BioCryst Pharmaceuticals

BioCryst Pharmaceuticals, Inc is a biotechnology company that discovers, develops and commercializes orally administered medicines for rare diseases. The company focuses on treatments that address significant unmet medical needs, using expertise in small-molecule drug discovery and development.

BioCryst's primary commercial product is ORLADEYO (berotralstat), an oral, once-daily medication used to prevent hereditary angioedema attacks in adults and pediatric patients ages 12 and older.

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