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

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) gapped up prior to trading 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 trading hands.

The biotechnology company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.12. The firm had revenue of $163.35 million for the quarter, compared to the consensus estimate of $149.59 million. During the same quarter in the prior year, the company earned ($0.06) earnings per share. The company's quarterly revenue was up 49.5% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 target price on shares of BioCryst Pharmaceuticals in a research report on Tuesday, May 6th. Needham & Company LLC reaffirmed a "buy" rating and issued a $17.00 target price on shares of BioCryst Pharmaceuticals in a research report on Monday. Bank of America upped their target price on shares of BioCryst Pharmaceuticals from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Cantor Fitzgerald assumed coverage on shares of BioCryst Pharmaceuticals in a research report on Tuesday, April 29th. They issued an "overweight" rating and a $20.00 target price on the stock. Finally, Wedbush upped their target price on shares of BioCryst Pharmaceuticals from $16.00 to $18.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, BioCryst Pharmaceuticals has a consensus rating of "Buy" and an average target price of $16.70.

Institutional Investors Weigh In On BioCryst Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new position in BioCryst Pharmaceuticals during the first quarter valued at approximately $32,000. GF Fund Management CO. LTD. purchased a new position in shares of BioCryst Pharmaceuticals in the fourth quarter valued at $33,000. GAMMA Investing LLC grew its holdings in shares of BioCryst Pharmaceuticals by 1,161.8% in the first quarter. GAMMA Investing LLC now owns 5,918 shares of the biotechnology company's stock valued at $44,000 after purchasing an additional 5,449 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of BioCryst Pharmaceuticals in the first quarter valued at $62,000. Finally, Family Legacy Financial Solutions LLC purchased a new position in shares of BioCryst Pharmaceuticals in the second quarter valued at $72,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

BioCryst Pharmaceuticals Stock Up 1.8%

The firm's 50 day simple moving average is $9.46 and its 200 day simple moving average is $8.74. The company has a market capitalization of $1.78 billion, a PE ratio of -47.30, a price-to-earnings-growth ratio of 1.43 and a beta of 1.10.

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.