Man Group plc Acquires New Position in BioCryst Pharmaceuticals, Inc. $BCRX

Key Points

• Man Group plc acquired 732,867 BioCryst Pharmaceuticals shares in the second quarter, valued at approximately $7.3 million and representing about 0.29% of the company.
• Institutional ownership remains high at 85.88%, with BlackRock, Vanguard, RA Capital, Deerfield Management and State Street among the major holders.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $20.60 versus a recent share price of $9.82. BioCryst also beat quarterly earnings and revenue estimates, reporting $0.30 EPS and $218.25 million in revenue.

Man Group plc bought a new stake in BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 732,867 shares of the biotechnology company's stock, valued at approximately $7,329,000. Man Group plc owned approximately 0.29% of BioCryst Pharmaceuticals as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. acquired a new stake in BioCryst Pharmaceuticals in the second quarter valued at about $238,930,000. Vanguard Group Inc. raised its stake in BioCryst Pharmaceuticals by 2.2% during 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 in the last quarter. RA Capital Management L.P. acquired a new position in BioCryst Pharmaceuticals during the fourth quarter worth about $123,452,000. Deerfield Management Company L.P. lifted its holdings in shares of BioCryst Pharmaceuticals by 159.4% in 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 acquiring an additional 7,477,000 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of BioCryst Pharmaceuticals by 12.9% in the fourth quarter. State Street Corp now owns 11,073,211 shares of the biotechnology company's stock worth $86,371,000 after acquiring an additional 1,265,773 shares during the last quarter. Institutional investors own 85.88% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Cantor Fitzgerald boosted their target price on shares of BioCryst Pharmaceuticals from $27.00 to $29.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 30th. Needham & Company LLC dropped their price target on BioCryst Pharmaceuticals from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, May 6th. Citizens Jmp raised their price objective on BioCryst Pharmaceuticals from $25.00 to $28.00 and gave the company a "market outperform" rating in a report on Thursday, May 7th. Wall Street Zen lowered BioCryst Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $32.00 target price on shares of BioCryst Pharmaceuticals in a report on Tuesday, June 30th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $20.60.

BioCryst Pharmaceuticals Price Performance

Shares of BioCryst Pharmaceuticals stock opened at $9.82 on Friday. The stock's 50-day moving average is $9.71 and its 200 day moving average is $9.05. BioCryst Pharmaceuticals, Inc. has a one year low of $6.00 and a one year high of $11.22. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -6.55 and a beta of 0.55.

BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) last issued 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%. BioCryst Pharmaceuticals's revenue was up 33.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 earnings per share. On average, sell-side analysts expect that BioCryst Pharmaceuticals, Inc. will post -2.25 EPS for the current fiscal year.

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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