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

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX - Get Free Report) shares gapped up before the market opened on Monday following a better than expected earnings announcement. The stock had previously closed at $8.93, but opened at $9.80. BioCryst Pharmaceuticals shares last traded at $10.03, with a volume of 5,915,215 shares changing hands.

The biotechnology company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.06). The business had revenue of $131.50 million for the quarter, compared to analyst estimates of $126.64 million. The company's revenue was up 40.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS.

Analysts Set New Price Targets

BCRX has been the topic of several research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $13.00 target price (up from $11.00) on shares of BioCryst Pharmaceuticals in a research report on Tuesday. JMP Securities reissued a "market outperform" rating and issued a $18.00 price objective on shares of BioCryst Pharmaceuticals in a report on Friday, January 31st. Cantor Fitzgerald started coverage on shares of BioCryst Pharmaceuticals in a report on Tuesday, April 29th. They set an "overweight" rating and a $20.00 target price for the company. Wedbush initiated coverage on shares of BioCryst Pharmaceuticals in a research report on Tuesday, February 25th. They issued an "outperform" rating and a $15.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BioCryst Pharmaceuticals from $10.00 to $13.00 and gave the company an "overweight" rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, BioCryst Pharmaceuticals has an average rating of "Buy" and a consensus price target of $16.56.

Institutional Trading of BioCryst Pharmaceuticals

Several institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC bought a new position in BioCryst Pharmaceuticals in the 1st quarter worth approximately $32,000. New Age Alpha Advisors LLC bought a new position in shares of BioCryst Pharmaceuticals during the first quarter worth $62,000. R Squared Ltd grew its stake in BioCryst Pharmaceuticals by 84.2% during the first quarter. R Squared Ltd now owns 11,670 shares of the biotechnology company's stock valued at $88,000 after acquiring an additional 5,335 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in BioCryst Pharmaceuticals by 82.4% during the first quarter. Jupiter Asset Management Ltd. now owns 2,148,969 shares of the biotechnology company's stock valued at $16,117,000 after acquiring an additional 971,040 shares in the last quarter. Finally, XTX Topco Ltd increased its holdings in BioCryst Pharmaceuticals by 314.8% in the 1st quarter. XTX Topco Ltd now owns 87,389 shares of the biotechnology company's stock valued at $655,000 after acquiring an additional 66,320 shares during the last quarter. Hedge funds and other institutional investors own 85.88% of the company's stock.

BioCryst Pharmaceuticals Trading Up 0.6 %

The firm has a market cap of $2.09 billion, a PE ratio of -16.36 and a beta of 1.08. The firm's 50 day simple moving average is $7.87 and its 200 day simple moving average is $7.89.

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.