BioCryst Pharmaceuticals (NASDAQ:BCRX) Coverage Initiated at TD Cowen

Key Points

• TD Cowen has initiated coverage on BioCryst Pharmaceuticals, giving it a "buy" rating with a price target of $30.00, suggesting a potential upside of 367.29% from its last close.
• The biotechnology firm reported a 49.5% increase in revenue year-over-year, with $163.35 million earned during its last quarter, significantly exceeding analyst estimates.
• Several other research firms have also adjusted their ratings on BioCryst, with one analyst giving it a "Strong Buy" rating and the consensus rating being "Moderate Buy" with an average price target of $18.64.

Equities researchers at TD Cowen assumed coverage on shares of BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) in a research report issued on Wednesday. The firm set a "buy" rating and a $30.00 price target on the biotechnology company's stock. TD Cowen's price objective would suggest a potential upside of 367.29% from the company's previous close.

A number of other research firms have also issued reports on BCRX. JMP Securities increased their price target on BioCryst Pharmaceuticals from $17.00 to $27.00 and gave the company a "market outperform" rating in a research report on Wednesday. Zacks Research upgraded shares of BioCryst Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. Royal Bank Of Canada restated an "outperform" rating and issued a $13.00 price objective on shares of BioCryst Pharmaceuticals in a report on Monday, June 30th. Evercore ISI reaffirmed an "in-line" rating and set a $8.00 price objective on shares of BioCryst Pharmaceuticals in a research report on Wednesday, October 1st. Finally, Wedbush increased their target price on BioCryst Pharmaceuticals from $16.00 to $18.00 and gave the company an "outperform" rating in a report on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.64.

BioCryst Pharmaceuticals Stock Down 8.8%

Shares of NASDAQ BCRX opened at $6.42 on Wednesday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -35.66, a PEG ratio of 1.41 and a beta of 1.05. BioCryst Pharmaceuticals has a 52-week low of $6.00 and a 52-week high of $11.31. The business's 50 day moving average is $7.94 and its two-hundred day moving average is $8.66.

BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) last released its earnings results on Monday, August 4th. The biotechnology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.12. The firm had revenue of $163.35 million during the quarter, compared to analyst estimates of $149.59 million. The business's revenue was up 49.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) earnings per share. Analysts anticipate that BioCryst Pharmaceuticals will post -0.36 EPS for the current fiscal year.

Insider Activity

In related news, Director Theresa Heggie sold 70,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $8.51, for a total value of $595,700.00. Following the transaction, the director owned 65,352 shares in the company, valued at $556,145.52. The trade was a 51.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new position in shares of BioCryst Pharmaceuticals in the first quarter valued at approximately $32,000. GAMMA Investing LLC increased its stake in BioCryst Pharmaceuticals by 1,161.8% in the 1st quarter. GAMMA Investing LLC now owns 5,918 shares of the biotechnology company's stock valued at $44,000 after buying an additional 5,449 shares during the period. New Age Alpha Advisors LLC purchased a new position in BioCryst Pharmaceuticals during the 1st quarter worth $62,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of BioCryst Pharmaceuticals in the 2nd quarter worth $72,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of BioCryst Pharmaceuticals in the first quarter valued at about $79,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

BioCryst Pharmaceuticals Company Profile

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.

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