Bank of New York Mellon Corp Makes New Investment in BioCryst Pharmaceuticals, Inc. $BCRX

Key Points

• Bank of New York Mellon acquired 680,481 shares of BioCryst Pharmaceuticals in the second quarter, valued at approximately $6.8 million and representing about 0.27% of the company. Institutional investors collectively own 85.88% of BCRX.
• Analyst sentiment is generally positive, with eight Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $20.60.
• BioCryst reported quarterly EPS of $0.30, beating estimates by $0.15, while revenue rose 33.6% year over year to $218.25 million. Despite the improved results, the company remains unprofitable, with a negative net margin of 40.90%.

Bank of New York Mellon Corp acquired a new position in BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 680,481 shares of the biotechnology company's stock, valued at approximately $6,805,000. Bank of New York Mellon Corp owned approximately 0.27% of BioCryst Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE increased its stake in BioCryst Pharmaceuticals by 231.6% in the 1st quarter. Bank of America Corp DE now owns 5,091,765 shares of the biotechnology company's stock worth $48,474,000 after buying an additional 3,556,208 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of BioCryst Pharmaceuticals in the first quarter valued at about $14,880,000. Wedge Capital Management L L P NC bought a new position in shares of BioCryst Pharmaceuticals in the second quarter worth about $3,808,000. Perceptive Advisors LLC boosted its stake in shares of BioCryst Pharmaceuticals by 135.1% in the first quarter. Perceptive Advisors LLC now owns 7,434,033 shares of the biotechnology company's stock worth $70,772,000 after acquiring an additional 4,271,504 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of BioCryst Pharmaceuticals by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 22,273,375 shares of the biotechnology company's stock worth $173,732,000 after acquiring an additional 482,494 shares during the period. 85.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BCRX has been the topic of several recent analyst reports. Citizens Jmp lifted their target price on BioCryst Pharmaceuticals from $25.00 to $28.00 and gave the company a "market outperform" rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. initiated coverage on shares of BioCryst Pharmaceuticals in a report on Monday, July 13th. They set a "neutral" rating and a $12.00 price objective for the company. HC Wainwright reiterated a "buy" rating and set a $32.00 price objective on shares of BioCryst Pharmaceuticals in a research report on Tuesday, June 30th. Weiss Ratings reissued a "hold (c)" rating on shares of BioCryst Pharmaceuticals in a report on Thursday, August 27th. Finally, Wall Street Zen lowered shares of BioCryst Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 29th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $20.60.

BioCryst Pharmaceuticals Trading Down 0.8%

NASDAQ:BCRX opened at $10.09 on Friday. The business's 50-day moving average is $9.75 and its 200 day moving average is $9.16. 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 $2.58 billion, a P/E ratio of -6.73 and a beta of 0.57.

BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) last released its quarterly 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 business had revenue of $218.25 million during the quarter, compared to analysts' expectations of $183.28 million. BioCryst Pharmaceuticals had a negative return on equity of 86.89% and a negative net margin of 40.90%.The firm's revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. On average, research analysts forecast that BioCryst Pharmaceuticals, Inc. will post -2.25 earnings per share for the current year.

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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