Bank of America Corp DE Makes New Investment in BioCryst Pharmaceuticals, Inc. $BCRX

Key Points

• Bank of America purchased 4.8 million BioCryst Pharmaceuticals shares worth approximately $48 million, gaining an 1.88% stake in the biotechnology company. Institutional investors collectively own 85.88% of BCRX.
• BioCryst reported quarterly EPS of $0.30, beating estimates by $0.15, while revenue rose 33.6% year over year to $218.25 million—above analyst expectations of $183.28 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $20.40, compared with the stock’s recent price of $8.68; targets range from $12 to $29.

Bank of America Corp DE purchased a new stake in shares of BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,801,284 shares of the biotechnology company's stock, valued at approximately $48,013,000. Bank of America Corp DE owned about 1.88% of BioCryst Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of BCRX. Larson Financial Group LLC increased its position in shares of BioCryst Pharmaceuticals by 1,188.0% during the fourth quarter. Larson Financial Group LLC now owns 3,542 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 3,267 shares in the last quarter. Allworth Financial LP purchased a new position in BioCryst Pharmaceuticals during the 2nd quarter worth $52,000. Envestnet Portfolio Solutions Inc. acquired a new position in BioCryst Pharmaceuticals during the 4th quarter valued at about $81,000. Hilltop Holdings Inc. purchased a new stake in shares of BioCryst Pharmaceuticals during the first quarter worth about $98,000. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of BioCryst Pharmaceuticals during the second quarter worth about $101,000. 85.88% of the stock is currently owned by institutional investors.

BioCryst Pharmaceuticals Stock Performance

Shares of NASDAQ BCRX opened at $8.68 on Monday. The company's fifty day moving average price is $9.43 and its 200 day moving average price is $9.25. BioCryst Pharmaceuticals, Inc. has a 1 year low of $6.00 and a 1 year high of $11.22. The company has a market capitalization of $2.22 billion, a PE ratio of -5.79 and a beta of 0.57.

BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.15. The business had revenue of $218.25 million for the quarter, compared to analyst estimates of $183.28 million. BioCryst Pharmaceuticals had a negative net margin of 40.90% and a negative return on equity of 86.89%. The company's revenue for the quarter was up 33.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 EPS. On average, equities analysts expect that BioCryst Pharmaceuticals, Inc. will post -2.25 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wedbush decreased their price objective on shares of BioCryst Pharmaceuticals from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Thursday, August 6th. Wall Street Zen cut shares of BioCryst Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 29th. JPMorgan Chase & Co. initiated coverage on shares of BioCryst Pharmaceuticals in a research note on Monday, July 13th. They set a "neutral" rating and a $12.00 price objective for the company. Cantor Fitzgerald boosted their price objective on shares of BioCryst Pharmaceuticals from $27.00 to $29.00 and gave the company an "overweight" rating in a report on Tuesday, June 30th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of BioCryst Pharmaceuticals in a research report on Thursday, August 27th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $20.40.

About BioCryst Pharmaceuticals

BioCryst Pharmaceuticals, Inc is a biotechnology company that discovers, develops and commercializes orally administered medicines for rare diseases. The company focuses on treatments that address significant unmet medical needs, using expertise in small-molecule drug discovery and development.

BioCryst's primary commercial product is ORLADEYO (berotralstat), an oral, once-daily medication used to prevent hereditary angioedema attacks in adults and pediatric patients ages 12 and older.

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