BioCryst Pharmaceuticals (NASDAQ:BCRX) Given New $27.00 Price Target at JMP Securities

Key Points

• JMP Securities has raised the price target for BioCryst Pharmaceuticals from $17.00 to $27.00, indicating a potential upside of 320.56% based on the company's previous closing price.
• BioCryst reported $0.15 earnings per share for the last quarter, significantly exceeding analysts' expectations of $0.03, with a revenue increase of 49.5% year-over-year.
• The stock, which recently opened at $6.42, has experienced a decline of 8.8%, with an average target price among analysts set at $17.50.

BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) had its price target raised by investment analysts at JMP Securities from $17.00 to $27.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "market outperform" rating on the biotechnology company's stock. JMP Securities' price target would indicate a potential upside of 320.56% from the company's previous close.

A number of other equities research analysts also recently weighed in on BCRX. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $13.00 target price on shares of BioCryst Pharmaceuticals in a research note on Monday, June 30th. Wedbush lifted their price target on shares of BioCryst Pharmaceuticals from $16.00 to $18.00 and gave the stock an "outperform" rating 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. Bank of America lifted their price target on shares of BioCryst Pharmaceuticals from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Finally, Evercore ISI reissued an "in-line" rating and set a $8.00 price target on shares of BioCryst Pharmaceuticals in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.50.

BioCryst Pharmaceuticals Trading Down 8.8%

BCRX stock opened at $6.42 on Wednesday. The firm has a 50 day moving average of $7.94 and a 200-day moving average of $8.66. BioCryst Pharmaceuticals has a 12 month low of $6.00 and a 12 month high of $11.31. The firm has a market capitalization of $1.35 billion, a P/E ratio of -35.66, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05.

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 for the quarter, beating analysts' consensus estimates of $0.03 by $0.12. The company had revenue of $163.35 million during the quarter, compared to analysts' expectations of $149.59 million. The company's revenue for the quarter was up 49.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.06) earnings per share. Sell-side analysts predict that BioCryst Pharmaceuticals will post -0.36 EPS for the current year.

Insiders Place Their Bets

In related news, Director Theresa Heggie sold 70,000 shares of BioCryst Pharmaceuticals stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $8.51, for a total value of $595,700.00. Following the sale, the director 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 SEC, which is available at this link. 5.10% of the stock is currently owned by company insiders.

Institutional Trading of BioCryst Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Allianz Asset Management GmbH boosted its holdings in shares of BioCryst Pharmaceuticals by 9.6% during the 1st quarter. Allianz Asset Management GmbH now owns 13,700 shares of the biotechnology company's stock valued at $103,000 after buying an additional 1,200 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in shares of BioCryst Pharmaceuticals by 7.7% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 17,992 shares of the biotechnology company's stock valued at $161,000 after buying an additional 1,288 shares in the last quarter. Royal Bank of Canada raised its position in shares of BioCryst Pharmaceuticals by 2.4% in the 1st quarter. Royal Bank of Canada now owns 63,463 shares of the biotechnology company's stock worth $476,000 after purchasing an additional 1,458 shares during the last quarter. Captrust Financial Advisors raised its position in shares of BioCryst Pharmaceuticals by 7.4% in the 2nd quarter. Captrust Financial Advisors now owns 22,105 shares of the biotechnology company's stock worth $198,000 after purchasing an additional 1,527 shares during the last quarter. Finally, Main Management ETF Advisors LLC raised its position in shares of BioCryst Pharmaceuticals by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 112,128 shares of the biotechnology company's stock worth $1,005,000 after purchasing an additional 1,824 shares during the last quarter. Institutional investors own 85.88% of the company's stock.

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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