Needham & Company LLC Forecasts Strong Price Appreciation for BioCryst Pharmaceuticals (NASDAQ:BCRX) Stock

BioCryst Pharmaceuticals (NASDAQ:BCRX) had its target price raised by equities researchers at Needham & Company LLC from $14.00 to $15.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 95.57% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $10.00 price objective on shares of BioCryst Pharmaceuticals in a research report on Tuesday, November 5th. Barclays raised their price objective on shares of BioCryst Pharmaceuticals from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.80.

BioCryst Pharmaceuticals Price Performance

Shares of NASDAQ:BCRX opened at $7.67 on Monday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -12.57 and a beta of 1.76. The business’s 50 day moving average price is $7.59 and its 200-day moving average price is $7.59. BioCryst Pharmaceuticals has a 1 year low of $4.03 and a 1 year high of $8.88.

BioCryst Pharmaceuticals (NASDAQ:BCRX) last released its quarterly earnings data on Monday, November 4th. The biotechnology company reported ($0.07) EPS for the quarter, meeting analysts’ consensus estimates of ($0.07). The business had revenue of $117.10 million during the quarter, compared to analyst estimates of $113.99 million. The firm’s revenue was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.19) EPS. On average, sell-side analysts expect that BioCryst Pharmaceuticals will post -0.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Deerfield Management Company L.P. Series C lifted its stake in shares of BioCryst Pharmaceuticals by 62.9% during the second quarter. Deerfield Management Company L.P. Series C now owns 8,135,804 shares of the biotechnology company’s stock valued at $50,279,000 after buying an additional 3,140,804 shares during the period. Geode Capital Management LLC increased its position in BioCryst Pharmaceuticals by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,837,985 shares of the biotechnology company’s stock worth $36,776,000 after purchasing an additional 127,708 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of BioCryst Pharmaceuticals by 16.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,338,062 shares of the biotechnology company’s stock valued at $25,369,000 after acquiring an additional 481,359 shares in the last quarter. Two Sigma Advisers LP lifted its stake in shares of BioCryst Pharmaceuticals by 13.6% during the third quarter. Two Sigma Advisers LP now owns 2,181,012 shares of the biotechnology company’s stock worth $16,576,000 after purchasing an additional 261,500 shares in the last quarter. Finally, Rice Hall James & Associates LLC boosted its holdings in BioCryst Pharmaceuticals by 4.0% in the 3rd quarter. Rice Hall James & Associates LLC now owns 2,163,743 shares of the biotechnology company’s stock worth $16,444,000 after acquiring an additional 84,102 shares during the period. Hedge funds and other institutional investors own 85.88% of the company’s stock.

BioCryst Pharmaceuticals Company Profile

BioCryst Pharmaceuticals, Inc, a biotechnology company, develops oral small-molecule and protein therapeutics to treat rare diseases. The company markets peramivir injection, an intravenous neuraminidase inhibitor for the treatment of acute uncomplicated influenza under the RAPIVAB, RAPIACTA, and PERAMIFLU names; and ORLADEYO, an oral serine protease inhibitor to treat hereditary angioedema.