BioCryst Pharmaceuticals (NASDAQ:BCRX) Posts 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) announced its quarterly earnings data on Monday. The biotechnology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.12, Zacks reports. The business had revenue of $163.35 million during the quarter, compared to analyst estimates of $149.59 million. During the same quarter in the prior year, the company posted ($0.06) EPS. The company's quarterly revenue was up 49.5% compared to the same quarter last year.

BioCryst Pharmaceuticals Price Performance

Shares of NASDAQ BCRX traded down $0.05 during mid-day trading on Friday, hitting $8.30. The company's stock had a trading volume of 1,822,994 shares, compared to its average volume of 3,886,867. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -46.11, a price-to-earnings-growth ratio of 1.95 and a beta of 1.10. BioCryst Pharmaceuticals has a one year low of $6.01 and a one year high of $11.31. The company's fifty day simple moving average is $9.37 and its 200-day simple moving average is $8.75.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BCRX. Caxton Associates LLP acquired a new stake in shares of BioCryst Pharmaceuticals in the 1st quarter valued at approximately $314,000. Royal Bank of Canada raised its holdings in BioCryst Pharmaceuticals by 2.4% during the 1st quarter. Royal Bank of Canada now owns 63,463 shares of the biotechnology company's stock worth $476,000 after buying an additional 1,458 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of BioCryst Pharmaceuticals by 6.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 135,314 shares of the biotechnology company's stock valued at $1,019,000 after purchasing an additional 8,517 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 valued at $3,363,000 after purchasing an additional 47,355 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of 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 own 85.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BCRX shares. Cantor Fitzgerald started coverage on shares of BioCryst Pharmaceuticals in a research note on Tuesday, April 29th. They issued an "overweight" rating and a $20.00 price objective for the company. Bank of America increased their price objective 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. Barclays upped their target price on shares of BioCryst Pharmaceuticals from $8.00 to $11.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. upped their target price on shares of BioCryst Pharmaceuticals from $10.00 to $13.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $30.00 target price on shares of BioCryst Pharmaceuticals in a report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $16.70.

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.