BioCryst Pharmaceuticals (NASDAQ:BCRX) Shares Gap Up After Earnings Beat

Shares of BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) gapped up prior to trading on Monday after the company announced better than expected quarterly earnings. The stock had previously closed at $4.45, but opened at $5.00. BioCryst Pharmaceuticals shares last traded at $5.35, with a volume of 2,906,898 shares.

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of BioCryst Pharmaceuticals in a report on Tuesday. JMP Securities lifted their price objective on BioCryst Pharmaceuticals from $14.00 to $15.00 and gave the stock a “market outperform” rating in a report on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of BioCryst Pharmaceuticals in a report on Tuesday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BCRX. Braidwell LP grew its holdings in shares of BioCryst Pharmaceuticals by 92.1% during the 3rd 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 holdings 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 acquiring an additional 2,371,401 shares during the period. Norges Bank purchased a new position in shares of BioCryst Pharmaceuticals during the 4th quarter worth approximately $13,278,000. Deerfield Management Company L.P. Series C grew its holdings in shares of BioCryst Pharmaceuticals by 148.6% during the 3rd quarter. Deerfield Management Company L.P. Series C now owns 3,286,000 shares of the biotechnology company’s stock worth $23,265,000 after acquiring an additional 1,964,000 shares during the period. Finally, Avoro Capital Advisors LLC grew its holdings in shares of BioCryst Pharmaceuticals by 13.0% during the 4th quarter. Avoro Capital Advisors LLC now owns 13,050,000 shares of the biotechnology company’s stock worth $78,170,000 after acquiring an additional 1,500,000 shares during the period. Hedge funds and other institutional investors own 85.88% of the company’s stock.

BioCryst Pharmaceuticals Trading Down 0.2 %

The business has a fifty day simple moving average of $4.90 and a two-hundred day simple moving average of $5.45. The stock has a market cap of $1.09 billion, a PE ratio of -4.46 and a beta of 1.96.

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.