Wedbush Has Lowered Expectations for BioCryst Pharmaceuticals (NASDAQ:BCRX) Stock Price

BioCryst Pharmaceuticals (NASDAQ:BCRX) had its price target reduced by equities researchers at Wedbush from $21.00 to $20.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Wedbush’s price objective would suggest a potential upside of 113.22% from the company’s current price.

BCRX has been the topic of a number of other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of BioCryst Pharmaceuticals in a research note on Monday, June 1st. HC Wainwright restated a “buy” rating and issued a $32.00 price target on shares of BioCryst Pharmaceuticals in a report on Tuesday, June 30th. JPMorgan Chase & Co. assumed coverage on shares of BioCryst Pharmaceuticals in a report on Monday, July 13th. They issued a “neutral” rating and a $12.00 price target on the stock. Wall Street Zen downgraded shares of BioCryst Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Royal Bank Of Canada lifted their price objective 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. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, BioCryst Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $20.60.

BioCryst Pharmaceuticals Price Performance

Shares of NASDAQ:BCRX opened at $9.38 on Thursday. The firm has a market capitalization of $2.38 billion, a PE ratio of -6.25 and a beta of 0.55. The business has a 50 day simple moving average of $9.33 and a two-hundred day simple moving average of $8.71. BioCryst Pharmaceuticals has a 1 year low of $6.00 and a 1 year high of $11.22.

BioCryst Pharmaceuticals (NASDAQ:BCRX) last issued its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.30 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $218.25 million during the quarter, compared to analyst estimates of $183.28 million. During the same period last year, the company earned $0.15 EPS. BioCryst Pharmaceuticals’s quarterly revenue was up 33.6% compared to the same quarter last year. Equities research analysts expect that BioCryst Pharmaceuticals will post -2.52 EPS for the current fiscal year.

Hedge Funds Weigh In On BioCryst Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. RHS Financial LLC bought a new stake in shares of BioCryst Pharmaceuticals in the second quarter valued at about $190,000. Citizens Financial Group Inc. RI bought a new position in BioCryst Pharmaceuticals during the 2nd quarter worth about $106,000. BlackRock Inc. bought a new position in BioCryst Pharmaceuticals during the 2nd quarter worth about $238,930,000. Pallas Capital Advisors LLC purchased a new position in BioCryst Pharmaceuticals during the 2nd quarter valued at about $101,000. Finally, Deutsche Bank AG bought a new stake in shares of BioCryst Pharmaceuticals in the 2nd quarter valued at about $5,634,000. Hedge funds and other 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.