Moore Capital Management LP Purchases New Position in BioCryst Pharmaceuticals, Inc. $BCRX

Key Points

• Moore Capital Management bought 848,336 BioCryst Pharmaceuticals shares worth approximately $8.5 million, establishing a 0.33% stake. Other institutions also increased or initiated positions, with institutional investors collectively owning 85.88% of BCRX.
• Analyst sentiment remains generally positive, with eight Buy ratings and four Holds. BioCryst has a consensus “Moderate Buy” rating and an average price target of $20.60, though individual targets range from $12 to $32.
• BioCryst reported quarterly revenue of $218.25 million, up 33.6% year over year and above expectations, while adjusted EPS of $0.30 exceeded the $0.15 consensus estimate. Shares opened at $9.82, within a 52-week range of $6.00 to $11.22.

Moore Capital Management LP bought a new stake in shares of BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 848,336 shares of the biotechnology company's stock, valued at approximately $8,483,000. Moore Capital Management LP owned approximately 0.33% of BioCryst Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in BioCryst Pharmaceuticals by 40.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,254 shares of the biotechnology company's stock worth $103,000 after buying an additional 2,942 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of BioCryst Pharmaceuticals by 247.1% in the second quarter. Hsbc Holdings PLC now owns 109,320 shares of the biotechnology company's stock worth $1,079,000 after buying an additional 77,821 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of BioCryst Pharmaceuticals by 197.2% during the 2nd quarter. Wellington Management Group LLP now owns 293,925 shares of the biotechnology company's stock worth $2,939,000 after purchasing an additional 195,042 shares during the last quarter. Nantahala Capital Management LLC acquired a new position in shares of BioCryst Pharmaceuticals during the 2nd quarter worth approximately $19,011,600. Finally, Seven Fleet Capital Management LP purchased a new stake in shares of BioCryst Pharmaceuticals in the second quarter valued at approximately $510,240. Hedge funds and other institutional investors own 85.88% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of BioCryst Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Saturday. HC Wainwright restated a "buy" rating and set a $32.00 price target on shares of BioCryst Pharmaceuticals in a report on Tuesday, June 30th. JPMorgan Chase & Co. initiated coverage on BioCryst Pharmaceuticals in a report on Monday, July 13th. They issued a "neutral" rating and a $12.00 price objective on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of BioCryst Pharmaceuticals in a research report on Monday, June 1st. Finally, Wedbush cut their target price on BioCryst Pharmaceuticals from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $20.60.

BioCryst Pharmaceuticals Stock Performance

Shares of NASDAQ:BCRX opened at $9.82 on Monday. BioCryst Pharmaceuticals, Inc. has a 52 week low of $6.00 and a 52 week high of $11.22. The company's 50 day moving average is $9.71 and its two-hundred day moving average is $9.07. The company has a market cap of $2.51 billion, a PE ratio of -6.55 and a beta of 0.56.

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

BioCryst Pharmaceuticals 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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