Millennium Management LLC Boosts Stock Position in BioCryst Pharmaceuticals, Inc. $BCRX

Key Points

• Millennium Management LLC increased its stake in BioCryst Pharmaceuticals by 382.6%, acquiring an additional 3,022,769 shares, bringing their total holdings to approximately $28.60 million.
• BioCryst Pharmaceuticals reported a quarterly earnings per share (EPS) of $0.15, exceeding expectations and showing a 49.5% increase in revenue year-over-year, reaching $163.35 million.
• Several analysts have set optimistic price targets for BioCryst Pharmaceuticals, with a consensus average target of $16.70 and multiple "buy" ratings from leading research firms.

Millennium Management LLC increased its stake in BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX - Free Report) by 382.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,812,874 shares of the biotechnology company's stock after purchasing an additional 3,022,769 shares during the quarter. Millennium Management LLC owned about 1.82% of BioCryst Pharmaceuticals worth $28,597,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BCRX. Headlands Technologies LLC purchased a new position in shares of BioCryst Pharmaceuticals in the first quarter valued at $32,000. GF Fund Management CO. LTD. purchased a new position in shares of BioCryst Pharmaceuticals in the fourth quarter valued at $33,000. GAMMA Investing LLC grew its position in BioCryst Pharmaceuticals by 1,161.8% during the first quarter. GAMMA Investing LLC now owns 5,918 shares of the biotechnology company's stock worth $44,000 after buying an additional 5,449 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in BioCryst Pharmaceuticals during the first quarter worth about $62,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in BioCryst Pharmaceuticals during the first quarter worth about $79,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

BioCryst Pharmaceuticals Price Performance

NASDAQ:BCRX traded down $0.21 during mid-day trading on Monday, reaching $7.70. 3,118,308 shares of the company's stock traded hands, compared to its average volume of 3,674,302. BioCryst Pharmaceuticals, Inc. has a 12-month low of $6.01 and a 12-month high of $11.31. The company has a 50 day moving average price of $8.43 and a 200-day moving average price of $8.73. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -42.78, a PEG ratio of 1.59 and a beta of 1.13.

BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) last posted its earnings results on Monday, August 4th. The biotechnology company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.12. The firm had revenue of $163.35 million for the quarter, compared to analysts' expectations of $149.59 million. During the same quarter last year, the company posted ($0.06) EPS. The firm's revenue was up 49.5% on a year-over-year basis. As a group, analysts forecast that BioCryst Pharmaceuticals, Inc. will post -0.36 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on BCRX. Needham & Company LLC reaffirmed a "buy" rating and set a $17.00 price target on shares of BioCryst Pharmaceuticals in a research note on Monday, August 4th. Wall Street Zen raised BioCryst Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Bank of America lifted their price target on BioCryst Pharmaceuticals from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $13.00 price target on shares of BioCryst Pharmaceuticals in a research note on Monday, June 30th. Finally, Wedbush lifted their price target on BioCryst Pharmaceuticals from $16.00 to $18.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, BioCryst Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $16.70.

Insider Buying and Selling at BioCryst Pharmaceuticals

In other BioCryst Pharmaceuticals news, Director Theresa Heggie sold 70,000 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $8.51, for a total transaction of $595,700.00. Following the transaction, the director owned 65,352 shares in the company, valued at approximately $556,145.52. This represents a 51.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.10% of the company's stock.

BioCryst Pharmaceuticals Company Profile

BioCryst Pharmaceuticals, Inc, a biotechnology company, develops oral small-molecule and protein therapeutics to treat rare diseases. The company markets peramivir injection, an intravenous neuraminidase inhibitor for the treatment of acute uncomplicated influenza under the RAPIVAB, RAPIACTA, and PERAMIFLU names; and ORLADEYO, an oral serine protease inhibitor to treat hereditary angioedema.