Assenagon Asset Management S.A. Buys 120,097 Shares of BioCryst Pharmaceuticals, Inc. $BCRX

Key Points

• Assenagon Asset Management increased its BioCryst Pharmaceuticals stake by 51.6% in the second quarter, purchasing 120,097 additional shares for a total holding of 353,044 shares. Institutional investors collectively own 85.88% of BCRX.
• BioCryst reported quarterly EPS of $0.30, beating estimates of $0.15, while revenue rose 33.6% year over year to $218.25 million, above the $183.28 million consensus.
• BCRX shares recently traded at $10.59, while analysts maintain a “Moderate Buy” consensus with an average price target of $20.60; ratings range from “Hold” to “Buy,” including targets as high as $32.

Assenagon Asset Management S.A. boosted its position in BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX - Free Report) by 51.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 353,044 shares of the biotechnology company's stock after purchasing an additional 120,097 shares during the period. Assenagon Asset Management S.A. owned about 0.14% of BioCryst Pharmaceuticals worth $3,530,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. RA Capital Management L.P. purchased a new stake in shares of BioCryst Pharmaceuticals during the fourth quarter worth $123,452,000. Deerfield Management Company L.P. grew its holdings in shares of BioCryst Pharmaceuticals by 159.4% during the third quarter. Deerfield Management Company L.P. now owns 12,169,000 shares of the biotechnology company's stock worth $92,363,000 after purchasing an additional 7,477,000 shares in the last quarter. Janus Henderson Group PLC grew its stake in BioCryst Pharmaceuticals by 7,807.2% in the 4th quarter. Janus Henderson Group PLC now owns 7,404,386 shares of the biotechnology company's stock worth $57,791,000 after buying an additional 7,310,745 shares in the last quarter. Perceptive Advisors LLC increased its stake in BioCryst Pharmaceuticals by 135.1% in the first quarter. Perceptive Advisors LLC now owns 7,434,033 shares of the biotechnology company's stock valued at $70,772,000 after acquiring an additional 4,271,504 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of BioCryst Pharmaceuticals by 231.6% during the 1st quarter. Bank of America Corp DE now owns 5,091,765 shares of the biotechnology company's stock valued at $48,474,000 after purchasing an additional 3,556,208 shares during the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

BioCryst Pharmaceuticals Trading Up 2.4%

NASDAQ:BCRX opened at $10.59 on Thursday. The business's 50-day moving average is $9.44 and its 200 day moving average is $8.80. BioCryst Pharmaceuticals, Inc. has a 12 month low of $6.00 and a 12 month high of $11.22. The company has a market capitalization of $2.71 billion, a P/E ratio of -7.06 and a beta of 0.55.

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

Analyst Ratings Changes

BCRX has been the topic of several recent research reports. Needham & Company LLC reduced their target price on shares of BioCryst Pharmaceuticals from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of BioCryst Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 8th. JPMorgan Chase & Co. assumed coverage on shares of BioCryst Pharmaceuticals in a research report on Monday, July 13th. They issued a "neutral" rating and a $12.00 target price on the stock. Wedbush lowered their price objective on BioCryst Pharmaceuticals from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Thursday, August 6th. Finally, HC Wainwright restated a "buy" rating and set a $32.00 price target on shares of BioCryst Pharmaceuticals in a report on Tuesday, June 30th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $20.60.

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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