BioCryst Pharmaceuticals (NASDAQ:BCRX) Given New $20.00 Price Target at Needham & Company LLC

Key Points

• BioCryst Pharmaceuticals' price target was raised from $17.00 to $20.00 by Needham & Company LLC, indicating a potential upside of 211.53% from the company's previous close.
• The biotechnology company reported a 49.5% year-over-year increase in revenue, reaching $163.35 million, and significantly surpassed earnings estimates in its latest quarterly results.
• Currently, the stock has a consensus rating of "Moderate Buy" with a variety of ratings from research analysts, including one Strong Buy and eight Buy ratings.

BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) had its price target increased by stock analysts at Needham & Company LLC from $17.00 to $20.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the biotechnology company's stock. Needham & Company LLC's target price points to a potential upside of 211.53% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $13.00 target price on shares of BioCryst Pharmaceuticals in a research note on Monday, June 30th. Zacks Research raised shares of BioCryst Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. Wedbush lifted their price target on shares of BioCryst Pharmaceuticals from $16.00 to $18.00 and gave the company an "outperform" rating in a research note on Monday, June 30th. Wall Street Zen raised shares of BioCryst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Finally, Bank of America lifted their price target on shares of BioCryst Pharmaceuticals from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $17.50.

BioCryst Pharmaceuticals Trading Down 8.8%

NASDAQ BCRX opened at $6.42 on Wednesday. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -35.66, a P/E/G ratio of 1.41 and a beta of 1.05. The firm's 50 day simple moving average is $7.94 and its 200 day simple moving average is $8.66. BioCryst Pharmaceuticals has a 1 year low of $6.00 and a 1 year high of $11.31.

BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) last announced its earnings results on Monday, August 4th. The biotechnology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.12. The company had revenue of $163.35 million for the quarter, compared to the consensus estimate of $149.59 million. The firm's revenue for the quarter was up 49.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.06) earnings per share. On average, equities research analysts forecast that BioCryst Pharmaceuticals will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of BioCryst Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Headlands Technologies LLC purchased a new stake in shares of BioCryst Pharmaceuticals during the 1st quarter valued at approximately $32,000. GAMMA Investing LLC lifted its stake in shares of BioCryst Pharmaceuticals by 1,161.8% during 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 in the last quarter. Family Legacy Financial Solutions LLC purchased a new stake in shares of BioCryst Pharmaceuticals during the 2nd quarter valued at approximately $72,000. New Age Alpha Advisors LLC purchased a new stake in shares of BioCryst Pharmaceuticals during the 1st quarter valued at approximately $62,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of BioCryst Pharmaceuticals during the 1st quarter valued at approximately $79,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.