Wedbush Issues Pessimistic Forecast for BioCryst Pharmaceuticals (NASDAQ:BCRX) Stock Price

BioCryst Pharmaceuticals (NASDAQ:BCRX) had its price target reduced by equities research analysts at Wedbush from $21.00 to $20.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Wedbush’s target price would indicate a potential upside of 112.11% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Cantor Fitzgerald lifted their price target on shares of BioCryst Pharmaceuticals from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Tuesday, June 30th. Wall Street Zen downgraded BioCryst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Royal Bank Of Canada increased their price target on shares of BioCryst Pharmaceuticals from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of BioCryst Pharmaceuticals in a report on Monday, June 1st. Finally, HC Wainwright reiterated a “buy” rating and set a $32.00 target price on shares of BioCryst Pharmaceuticals in a research note on Tuesday, June 30th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.70.

BioCryst Pharmaceuticals Stock Performance

NASDAQ BCRX traded up $0.36 on Thursday, hitting $9.43. The stock had a trading volume of 1,437,874 shares, compared to its average volume of 4,984,916. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -5.30 and a beta of 0.55. BioCryst Pharmaceuticals has a 52-week low of $6.00 and a 52-week high of $11.22. The firm has a 50-day moving average of $9.32 and a 200-day moving average of $8.69.

BioCryst Pharmaceuticals (NASDAQ:BCRX) last announced 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 company had revenue of $218.25 million during the quarter, compared to analyst estimates of $183.28 million. BioCryst Pharmaceuticals had a negative net margin of 51.71% and a negative return on equity of 76.36%. The firm’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 earnings per share. As a group, research analysts anticipate that BioCryst Pharmaceuticals will post -2.58 earnings per share for the current fiscal year.

Institutional Trading of BioCryst Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of BCRX. Phocas Financial Corp. acquired a new stake in shares of BioCryst Pharmaceuticals during the 4th quarter valued at approximately $1,956,000. Aberdeen Group plc purchased a new position in shares of BioCryst Pharmaceuticals during the fourth quarter valued at approximately $7,126,000. Vanguard Group Inc. boosted its holdings in shares of 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 purchasing an additional 482,494 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in BioCryst Pharmaceuticals by 21.4% in the 4th quarter. BNP Paribas Financial Markets now owns 2,542,714 shares of the biotechnology company’s stock valued at $19,833,000 after buying an additional 448,436 shares during the period. Finally, Perceptive Advisors LLC increased its position in BioCryst Pharmaceuticals by 135.1% during the first quarter. Perceptive Advisors LLC now owns 7,434,033 shares of the biotechnology company’s stock worth $70,772,000 after purchasing an additional 4,271,504 shares during the last quarter. Institutional investors own 85.88% of the company’s stock.

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.