BioCryst Pharmaceuticals (NASDAQ:BCRX) Trading Up 10.7% on Better-Than-Expected Earnings

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRXGet Free Report)’s share price shot up 10.7% during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $8.62 and last traded at $8.7490. 2,803,466 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 4,386,014 shares. The stock had previously closed at $7.90.

The biotechnology company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $1.05. The business had revenue of $163.28 million for the quarter, compared to analyst estimates of $151.32 million. BioCryst Pharmaceuticals had a negative return on equity of 4.24% and a negative net margin of 1.46%.BioCryst Pharmaceuticals’s revenue for the quarter was up 209.1% compared to the same quarter last year. During the same period last year, the company earned ($0.13) EPS.

Key BioCryst Pharmaceuticals News

Here are the key news stories impacting BioCryst Pharmaceuticals this week:

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Evercore assumed coverage on shares of BioCryst Pharmaceuticals in a research report on Wednesday, February 18th. They set an “outperform” rating and a $17.00 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioCryst Pharmaceuticals in a research note on Monday, December 29th. Needham & Company LLC cut their target price on BioCryst Pharmaceuticals from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. Citizens Jmp lowered their price target on BioCryst Pharmaceuticals from $27.00 to $25.00 and set a “market outperform” rating for the company in a research report on Wednesday, November 5th. Finally, Barclays cut their price objective on BioCryst Pharmaceuticals from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 4th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.64.

Get Our Latest Research Report on BCRX

Insider Activity

In other news, insider Alane P. Barnes sold 91,004 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $7.10, for a total value of $646,128.40. Following the completion of the transaction, the insider owned 416,152 shares of the company’s stock, valued at approximately $2,954,679.20. This represents a 17.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 183,453 shares of company stock valued at $1,330,965. 5.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BioCryst Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of BioCryst Pharmaceuticals by 2.4% in the 1st quarter. Royal Bank of Canada now owns 63,463 shares of the biotechnology company’s stock worth $476,000 after buying an additional 1,458 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of BioCryst Pharmaceuticals by 6.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 135,314 shares of the biotechnology company’s stock valued at $1,019,000 after purchasing an additional 8,517 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of BioCryst Pharmaceuticals by 49.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,931,934 shares of the biotechnology company’s stock worth $14,490,000 after buying an additional 640,704 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of BioCryst Pharmaceuticals in the first quarter worth $314,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in BioCryst Pharmaceuticals by 11.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 448,466 shares of the biotechnology company’s stock valued at $3,363,000 after purchasing an additional 47,355 shares in the last quarter. Institutional investors own 85.88% of the company’s stock.

BioCryst Pharmaceuticals Price Performance

The company’s 50-day moving average is $7.11 and its two-hundred day moving average is $7.40. The company has a market cap of $1.83 billion, a P/E ratio of -173.70 and a beta of 0.83.

BioCryst Pharmaceuticals Company Profile

(Get Free Report)

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.

Further Reading

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