BlackRock Inc. Invests $238.93 Million in BioCryst Pharmaceuticals, Inc. $BCRX

Key Points

• BlackRock acquired 23.9 million BioCryst shares worth approximately $238.9 million in the second quarter, giving it a 9.4% stake. Institutional investors collectively own 85.88% of the company.
• BioCryst reported quarterly revenue of $218.25 million, up 33.6% year over year, and EPS of $0.30—beating analysts’ $0.15 estimate—despite continued negative net margins.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $20.60 versus the stock’s recent price of $9.87.

BlackRock Inc. bought a new stake in shares of BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,893,036 shares of the biotechnology company's stock, valued at approximately $238,930,000. BlackRock Inc. owned 9.40% of BioCryst Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Bank of America Corp DE lifted its stake 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 buying an additional 3,556,208 shares in the last quarter. Pacer Advisors Inc. bought a new position in BioCryst Pharmaceuticals in the 1st quarter worth approximately $14,880,000. Perceptive Advisors LLC grew its position in shares of BioCryst Pharmaceuticals by 135.1% during the first quarter. Perceptive Advisors LLC now owns 7,434,033 shares of the biotechnology company's stock valued at $70,772,000 after purchasing an additional 4,271,504 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in BioCryst Pharmaceuticals in the 2nd quarter worth about $3,808,000. Finally, Rice Hall James & Associates LLC bought a new stake in BioCryst Pharmaceuticals during the 2nd quarter valued at about $23,320,000. Institutional investors own 85.88% of the company's stock.

BioCryst Pharmaceuticals Stock Up 0.4%

Shares of BCRX stock opened at $9.87 on Friday. BioCryst Pharmaceuticals, Inc. has a 52-week low of $6.00 and a 52-week high of $11.22. The stock has a market cap of $2.52 billion, a PE ratio of -6.58 and a beta of 0.55. The business has a 50-day simple moving average of $9.70 and a 200-day simple moving average of $9.05.

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, 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 firm had revenue of $218.25 million during the quarter, compared to analysts' expectations of $183.28 million. During the same period in the previous year, the business posted $0.15 EPS. The business's revenue was up 33.6% compared to the same quarter last year. Sell-side analysts anticipate that BioCryst Pharmaceuticals, Inc. will post -2.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on BCRX. Citizens Jmp raised their price objective on BioCryst Pharmaceuticals from $25.00 to $28.00 and gave the stock a "market outperform" rating in a report on Thursday, May 7th. HC Wainwright restated a "buy" rating and set a $32.00 price objective on shares of BioCryst Pharmaceuticals in a research note on Tuesday, June 30th. Royal Bank Of Canada dropped their price objective on BioCryst Pharmaceuticals from $14.00 to $13.00 and set an "outperform" rating on the stock in a research report on Thursday, August 6th. JPMorgan Chase & Co. started 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. Finally, Wedbush decreased their target price 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. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, BioCryst Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.60.

BioCryst Pharmaceuticals Company Profile

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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