BioCryst Pharmaceuticals (NASDAQ:BCRX) Shares Gap Up on Earnings Beat

Key Points

• BioCryst Pharmaceuticals saw its shares **gap up** to $9.14 after reporting quarterly earnings of **$0.15 EPS**, significantly above the consensus estimate of **$0.03 EPS**.
• The company generated **$163.35 million** in revenue for the quarter, marking a **49.5% year-over-year increase** and surpassing analysts' expectations of **$149.59 million**.
• Institutional investors own **85.88%** of BioCryst Pharmaceuticals' stock, indicating strong investor confidence in the company.

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX - Get Free Report)'s stock price gapped up before the market opened on Monday after the company announced better than expected quarterly earnings. The stock had previously closed at $7.95, but opened at $9.14. BioCryst Pharmaceuticals shares last traded at $8.32, with a volume of 2,333,940 shares changing hands.

The biotechnology company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.12. The company had revenue of $163.35 million during the quarter, compared to the consensus estimate of $149.59 million. The company's revenue was up 49.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.06) earnings per share.

Wall Street Analyst Weigh In

BCRX has been the subject of a number of research reports. Wall Street Zen upgraded shares of BioCryst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. raised their price objective on shares of BioCryst Pharmaceuticals from $10.00 to $13.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Wedbush lifted their target price 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. 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. Finally, Needham & Company LLC restated a "buy" rating and set a $17.00 price target on shares of BioCryst Pharmaceuticals in a report on Monday. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, BioCryst Pharmaceuticals currently has a consensus rating of "Buy" and a consensus price target of $16.70.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Alkeon Capital Management LLC grew its position in BioCryst Pharmaceuticals by 1.7% in the 1st quarter. Alkeon Capital Management LLC now owns 7,214,021 shares of the biotechnology company's stock worth $54,105,000 after purchasing an additional 120,199 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of BioCryst Pharmaceuticals by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 5,054,610 shares of the biotechnology company's stock valued at $45,296,000 after acquiring an additional 93,973 shares in the last quarter. Millennium Management LLC boosted its position in BioCryst Pharmaceuticals by 382.6% in the first quarter. Millennium Management LLC now owns 3,812,874 shares of the biotechnology company's stock valued at $28,597,000 after buying an additional 3,022,769 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in BioCryst Pharmaceuticals by 25,631.2% in the second quarter. Assenagon Asset Management S.A. now owns 3,620,637 shares of the biotechnology company's stock valued at $32,441,000 after buying an additional 3,606,566 shares in the last quarter. Finally, Caligan Partners LP boosted its position in BioCryst Pharmaceuticals by 16.0% in the fourth quarter. Caligan Partners LP now owns 2,995,932 shares of the biotechnology company's stock valued at $22,529,000 after buying an additional 412,347 shares in the last quarter. Institutional investors own 85.88% of the company's stock.

BioCryst Pharmaceuticals Price Performance

The company has a market capitalization of $1.74 billion, a P/E ratio of -46.11, a P/E/G ratio of 1.90 and a beta of 1.10. The stock's 50 day simple moving average is $9.32 and its two-hundred day simple moving average is $8.75.

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.