Bank of America Corp DE Buys 3,556,208 Shares of BioCryst Pharmaceuticals, Inc. $BCRX

Key Points

• Bank of America increased its BioCryst Pharmaceuticals stake by 231.6%, purchasing 3.56 million additional shares to own 5.09 million shares, or 2% of the company, valued at approximately $48.5 million.
• BioCryst reported quarterly revenue of $218.25 million, up 33.6% year over year, and adjusted earnings of $0.30 per share—$0.15 above estimates—though it continued to post negative net margins and return on equity.
• Analysts remain broadly positive, with eight Buy ratings and four Holds; the stock has a “Moderate Buy” consensus rating and an average price target of $20.60, well above its reported $10.59 share price.

Bank of America Corp DE boosted its stake in BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX - Free Report) by 231.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,091,765 shares of the biotechnology company's stock after buying an additional 3,556,208 shares during the period. Bank of America Corp DE owned 2.00% of BioCryst Pharmaceuticals worth $48,474,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BCRX. Royal Bank of Canada raised its position in shares of BioCryst Pharmaceuticals by 2.4% in the 1st quarter. Royal Bank of Canada now owns 63,463 shares of the biotechnology company's stock worth $476,000 after acquiring an additional 1,458 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of BioCryst Pharmaceuticals by 6.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 135,314 shares of the biotechnology company's stock valued at $1,019,000 after purchasing an additional 8,517 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of BioCryst Pharmaceuticals by 49.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,931,934 shares of the biotechnology company's stock valued at $14,490,000 after purchasing an additional 640,704 shares in the last quarter. Caxton Associates LLP purchased a new stake in BioCryst Pharmaceuticals in the first quarter worth $314,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in BioCryst Pharmaceuticals by 11.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 448,466 shares of the biotechnology company's stock worth $3,363,000 after purchasing an additional 47,355 shares during the period. 85.88% of the stock is owned by institutional investors.

BioCryst Pharmaceuticals Price Performance

Shares of NASDAQ:BCRX opened at $10.59 on Thursday. The business has a fifty day moving average price of $9.44 and a 200-day moving average price of $8.80. The company has a market capitalization of $2.71 billion, a PE ratio of -7.06 and a beta of 0.55. BioCryst Pharmaceuticals, Inc. has a 1-year low of $6.00 and a 1-year high of $11.22.

BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.30 EPS for the quarter, beating 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 the consensus estimate of $183.28 million. During the same period in the prior year, the firm posted $0.15 EPS. BioCryst Pharmaceuticals's revenue for the quarter was up 33.6% on a year-over-year basis. On average, sell-side analysts anticipate that BioCryst Pharmaceuticals, Inc. will post -2.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on BCRX shares. HC Wainwright reissued a "buy" rating and set a $32.00 price objective on shares of BioCryst Pharmaceuticals in a research report on Tuesday, June 30th. Citizens Jmp upped their target price on shares of BioCryst Pharmaceuticals from $25.00 to $28.00 and gave the stock a "market outperform" rating in a research report on Thursday, May 7th. 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 research report on Wednesday, May 6th. Wall Street Zen upgraded shares of BioCryst Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Finally, Cantor Fitzgerald lifted their price target on shares of BioCryst Pharmaceuticals from $27.00 to $29.00 and gave the company an "overweight" rating in a research report on Tuesday, June 30th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus 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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