BioCryst Pharmaceuticals (NASDAQ:BCRX) Shares Down 4.5% - Here's What Happened

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX - Get Free Report) shares were down 4.5% on Monday . The stock traded as low as $8.93 and last traded at $8.94. Approximately 3,088,508 shares changed hands during trading, an increase of 2% from the average daily volume of 3,020,998 shares. The stock had previously closed at $9.36.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BCRX shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $13.00 price objective on shares of BioCryst Pharmaceuticals in a research report on Monday. JPMorgan Chase & Co. raised 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, May 6th. HC Wainwright reaffirmed a "buy" rating and set a $30.00 price objective on shares of BioCryst Pharmaceuticals in a research report on Tuesday, May 6th. Wedbush raised their price objective on shares of BioCryst Pharmaceuticals from $16.00 to $18.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $17.00 price objective on shares of BioCryst Pharmaceuticals in a research report on Wednesday, June 25th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.70.

BioCryst Pharmaceuticals Price Performance

The firm has a fifty day simple moving average of $10.01 and a 200 day simple moving average of $8.57. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -34.67, a P/E/G ratio of 2.32 and a beta of 1.04.

Hedge Funds Weigh In On BioCryst Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC acquired a new stake in shares of BioCryst Pharmaceuticals in the fourth quarter worth $192,000. Charles Schwab Investment Management Inc. grew its stake in shares of BioCryst Pharmaceuticals by 4.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,979,992 shares of the biotechnology company's stock worth $14,890,000 after acquiring an additional 91,998 shares during the last quarter. Arizona State Retirement System grew its stake in shares of BioCryst Pharmaceuticals by 6.6% in the fourth quarter. Arizona State Retirement System now owns 57,001 shares of the biotechnology company's stock worth $429,000 after acquiring an additional 3,518 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of BioCryst Pharmaceuticals in the fourth quarter worth $80,000. Finally, AlphaQuest LLC grew its stake in shares of BioCryst Pharmaceuticals by 800.1% in the fourth quarter. AlphaQuest LLC now owns 28,442 shares of the biotechnology company's stock worth $214,000 after acquiring an additional 25,282 shares during the last quarter. Institutional investors and hedge funds own 85.88% of the company's stock.

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.