BioCryst Pharmaceuticals (NASDAQ:BCRX) Stock Price Down 5.7% - Here's What Happened

Key Points

• BioCryst shares fell 5.7% to about $9.99, with trading volume roughly 70% below the average session volume.
• Analysts remain broadly positive, with eight Buy ratings and four Holds; the stock has a “Moderate Buy” consensus and an average price target of $20.60.
• BioCryst exceeded quarterly expectations, reporting $0.30 EPS versus $0.15 expected and $218.25 million in revenue, up 33.6% year over year, though it continues to post negative profitability metrics.

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX - Get Free Report)'s share price traded down 5.7% on Thursday . The stock traded as low as $9.96 and last traded at $9.9850. Approximately 1,501,871 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 4,961,299 shares. The stock had previously closed at $10.59.

Wall Street Analyst Weigh In

BCRX has been the topic of several research analyst reports. JPMorgan Chase & Co. started coverage on shares of BioCryst Pharmaceuticals in a report on Monday, July 13th. They set a "neutral" rating and a $12.00 price target on the stock. Wedbush cut their price objective on BioCryst Pharmaceuticals from $21.00 to $20.00 and set an "outperform" rating for the company in a report on Thursday, August 6th. Needham & Company LLC reduced their price objective on BioCryst Pharmaceuticals from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, May 6th. Royal Bank Of Canada lowered their target price on BioCryst Pharmaceuticals from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of BioCryst Pharmaceuticals in a research report on Monday, June 1st. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $20.60.

BioCryst Pharmaceuticals Stock Down 7.4%

The company has a market capitalization of $2.51 billion, a P/E ratio of -6.53 and a beta of 0.55. The company's 50-day simple moving average is $9.44 and its 200 day simple moving average is $8.80.

BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.15 by $0.15. BioCryst Pharmaceuticals had a negative net margin of 40.90% and a negative return on equity of 86.89%. The company had revenue of $218.25 million for the quarter, compared to analyst estimates of $183.28 million. During the same quarter in the prior year, the business posted $0.15 EPS. BioCryst Pharmaceuticals's quarterly revenue was up 33.6% on a year-over-year basis. As a group, equities research analysts forecast that BioCryst Pharmaceuticals, Inc. will post -2.44 earnings per share for the current year.

Hedge Funds Weigh In On BioCryst Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new stake in shares of BioCryst Pharmaceuticals in the second quarter worth about $587,000. Elevation Point Wealth Partners LLC bought a new position in shares of BioCryst Pharmaceuticals in the 2nd quarter valued at approximately $126,000. Commerce Bank acquired a new stake in BioCryst Pharmaceuticals in the 2nd quarter worth approximately $383,000. Northwestern Mutual Wealth Management Co. acquired a new stake in BioCryst Pharmaceuticals in the 2nd quarter worth approximately $103,000. Finally, Quantbot Technologies LP bought a new stake in BioCryst Pharmaceuticals during the second quarter worth approximately $343,000. 85.88% of the stock is currently owned by institutional investors.

About BioCryst Pharmaceuticals

BioCryst Pharmaceuticals, Inc is a clinical‐stage biotechnology company headquartered in Durham, North Carolina, that focuses on the discovery and development of novel, oral small‐molecule medicines for rare and serious diseases. Since its founding in 1986, the company has leveraged structure‐based drug design to advance a pipeline of targeted therapeutics designed to address underlying disease mechanisms rather than just treat symptoms.

The company's first commercial product, Orladeyo (berotralstat), is an oral kallikrein inhibitor approved for the prophylactic treatment of hereditary angioedema (HAE) in both the United States and Europe.

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