Wedge Capital Management L L P NC Acquires Shares of 380,801 BioCryst Pharmaceuticals, Inc. $BCRX

Key Points

• Wedge Capital Management acquired 380,801 BioCryst Pharmaceuticals shares worth approximately $3.8 million, representing a 0.15% stake. Institutional investors collectively own 85.88% of the company.
• Analysts maintain a “Moderate Buy” consensus on BCRX, with eight Buy ratings and four Holds and an average price target of $20.60.
• BioCryst reported quarterly EPS of $0.30, beating the $0.15 estimate, while revenue rose 33.6% year over year to $218.25 million; however, the company continues to post negative net margins and analysts expect a full-year loss.

Wedge Capital Management L L P NC bought a new stake in BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 380,801 shares of the biotechnology company's stock, valued at approximately $3,808,000. Wedge Capital Management L L P NC owned 0.15% of BioCryst Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in BioCryst Pharmaceuticals by 2.4% in the first quarter. Royal Bank of Canada now owns 63,463 shares of the biotechnology company's stock valued at $476,000 after acquiring an additional 1,458 shares during the last quarter. Cetera Investment Advisers increased its position in BioCryst Pharmaceuticals by 13.8% in the fourth quarter. Cetera Investment Advisers now owns 12,330 shares of the biotechnology company's stock worth $96,000 after purchasing an additional 1,494 shares during the period. Captrust Financial Advisors raised its holdings in BioCryst Pharmaceuticals by 7.4% during the 2nd quarter. Captrust Financial Advisors now owns 22,105 shares of the biotechnology company's stock worth $198,000 after purchasing an additional 1,527 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in BioCryst Pharmaceuticals by 26.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,231 shares of the biotechnology company's stock worth $80,000 after purchasing an additional 2,115 shares during the last quarter. Finally, Legato Capital Management LLC lifted its position in BioCryst Pharmaceuticals by 10.0% during the 4th quarter. Legato Capital Management LLC now owns 23,949 shares of the biotechnology company's stock valued at $187,000 after purchasing an additional 2,172 shares during the period. Institutional investors own 85.88% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BCRX. Wedbush reduced their target price on shares of BioCryst Pharmaceuticals from $21.00 to $20.00 and set an "outperform" rating on the stock in a research note on Thursday, August 6th. Weiss Ratings reissued a "hold (c)" rating on shares of BioCryst Pharmaceuticals in a research note on Monday, June 1st. Royal Bank Of Canada cut their price objective on shares of BioCryst Pharmaceuticals from $14.00 to $13.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. Citizens Jmp raised their price objective on shares of BioCryst Pharmaceuticals from $25.00 to $28.00 and gave the company a "market outperform" rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. started coverage on shares of BioCryst Pharmaceuticals in a report on Monday, July 13th. They set a "neutral" rating and a $12.00 target price for the company. 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, BioCryst Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.60.

BioCryst Pharmaceuticals Price Performance

Shares of BCRX stock opened at $9.81 on Friday. The stock has a market cap of $2.51 billion, a PE ratio of -6.54 and a beta of 0.55. The stock has a 50-day moving average of $9.47 and a 200-day moving average of $8.82. BioCryst Pharmaceuticals, Inc. has a one year low of $6.00 and a one year high of $11.22.

BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.30 earnings per share 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 quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 EPS. As a group, research analysts anticipate that BioCryst Pharmaceuticals, Inc. will post -2.44 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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