BioCryst Pharmaceuticals (NASDAQ:BCRX) Announces Earnings Results, Beats Expectations By $0.12 EPS

Key Points

• BioCryst Pharmaceuticals reported earnings of $0.15 per share, significantly exceeding analysts' expectations of $0.02 by $0.13.
• The company's stock price opened at $7.95, with a market capitalization of $1.66 billion and a P/E ratio of -30.58.
• Several analysts have recently raised their price targets for BioCryst, with Barclays setting a new target of $11 and Needham & Company issuing a target of $17, reflecting a positive outlook on the stock.

BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) posted its earnings results on Monday. The biotechnology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.12, Zacks reports. The company's revenue was up 49.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) earnings per share.

BioCryst Pharmaceuticals Trading Down 2.3%

BCRX stock opened at $7.95 on Monday. The company has a market cap of $1.66 billion, a PE ratio of -30.58, a price-to-earnings-growth ratio of 1.30 and a beta of 1.10. The stock has a 50-day moving average price of $9.54 and a two-hundred day moving average price of $8.74. BioCryst Pharmaceuticals has a 12-month low of $6.01 and a 12-month high of $11.31.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BCRX. Bank of America boosted their target price on BioCryst Pharmaceuticals from $13.00 to $15.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Needham & Company LLC restated a "buy" rating and set a $17.00 price objective on shares of BioCryst Pharmaceuticals in a research report on Wednesday, June 25th. Wedbush raised their target price 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. Royal Bank Of Canada reissued an "outperform" rating and set a $13.00 price target on shares of BioCryst Pharmaceuticals in a report on Monday, June 30th. Finally, HC Wainwright restated a "buy" rating and issued a $30.00 price objective on shares of BioCryst Pharmaceuticals in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $16.70.

Institutional Investors Weigh In On BioCryst Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Caxton Associates LLP acquired a new stake in BioCryst Pharmaceuticals during the 1st quarter valued at $314,000. Royal Bank of Canada grew its stake in shares of BioCryst Pharmaceuticals by 2.4% during the first quarter. Royal Bank of Canada now owns 63,463 shares of the biotechnology company's stock valued at $476,000 after acquiring an additional 1,458 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of BioCryst Pharmaceuticals by 6.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 135,314 shares of the biotechnology company's stock worth $1,019,000 after acquiring an additional 8,517 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of BioCryst Pharmaceuticals by 11.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 448,466 shares of the biotechnology company's stock worth $3,363,000 after acquiring an additional 47,355 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in BioCryst Pharmaceuticals by 49.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,931,934 shares of the biotechnology company's stock valued at $14,490,000 after purchasing an additional 640,704 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company's stock.

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.