BioCryst Pharmaceuticals (NASDAQ:BCRX) Shares Up 5.5% on Better-Than-Expected Earnings

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) rose 5.5% during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $5.70 and last traded at $5.56. Approximately 774,886 shares traded hands during trading, a decline of 77% from the average daily volume of 3,331,300 shares. The stock had previously closed at $5.27.

The biotechnology company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. The company had revenue of $92.80 million during the quarter, compared to analysts’ expectations of $85.62 million. During the same period last year, the firm earned ($0.28) earnings per share. BioCryst Pharmaceuticals’s revenue was up 34.9% on a year-over-year basis.

Analysts Set New Price Targets

Several research analysts have commented on BCRX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of BioCryst Pharmaceuticals in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of BioCryst Pharmaceuticals in a research report on Tuesday. Finally, JMP Securities increased their price target on shares of BioCryst Pharmaceuticals from $14.00 to $15.00 and gave the stock a “market outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BioCryst Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Hedge Funds Weigh In On BioCryst Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Braidwell LP grew its holdings in BioCryst Pharmaceuticals by 92.1% during the third quarter. Braidwell LP now owns 5,362,980 shares of the biotechnology company’s stock worth $37,970,000 after acquiring an additional 2,571,100 shares during the period. Vanguard Group Inc. grew its stake in shares of BioCryst Pharmaceuticals by 15.4% during the 4th quarter. Vanguard Group Inc. now owns 17,763,720 shares of the biotechnology company’s stock worth $106,405,000 after purchasing an additional 2,371,401 shares during the period. Norges Bank acquired a new position in shares of BioCryst Pharmaceuticals during the 4th quarter worth $13,278,000. Deerfield Management Company L.P. Series C lifted its stake in shares of BioCryst Pharmaceuticals by 148.6% in the third quarter. Deerfield Management Company L.P. Series C now owns 3,286,000 shares of the biotechnology company’s stock valued at $23,265,000 after purchasing an additional 1,964,000 shares during the period. Finally, Avoro Capital Advisors LLC boosted its holdings in BioCryst Pharmaceuticals by 13.0% during the fourth quarter. Avoro Capital Advisors LLC now owns 13,050,000 shares of the biotechnology company’s stock worth $78,170,000 after buying an additional 1,500,000 shares in the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.

BioCryst Pharmaceuticals Price Performance

The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -4.77 and a beta of 1.96. The firm’s 50-day simple moving average is $4.89 and its two-hundred day simple moving average is $5.45.

About BioCryst Pharmaceuticals

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.