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

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) shares gapped up before the market opened on Monday following a stronger than expected earnings report. 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 trading hands.

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

Analyst Upgrades and Downgrades

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

Institutional Trading of BioCryst Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. boosted its position in BioCryst Pharmaceuticals by 96.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,865 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 2,388 shares during the period. Teacher Retirement System of Texas grew its position in shares of BioCryst Pharmaceuticals by 4.9% during the third quarter. Teacher Retirement System of Texas now owns 53,640 shares of the biotechnology company’s stock worth $380,000 after acquiring an additional 2,519 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of BioCryst Pharmaceuticals by 17,500.0% in the 3rd quarter. Fifth Third Bancorp now owns 3,520 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 3,500 shares during the period. Teza Capital Management LLC lifted its position in BioCryst Pharmaceuticals by 12.8% in the 3rd quarter. Teza Capital Management LLC now owns 36,904 shares of the biotechnology company’s stock valued at $261,000 after purchasing an additional 4,180 shares during the last quarter. Finally, Great Valley Advisor Group Inc. boosted its stake in BioCryst Pharmaceuticals by 34.7% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 16,300 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 4,200 shares during the period. 85.88% of the stock is owned by institutional investors and hedge funds.

BioCryst Pharmaceuticals Trading Down 0.2 %

The firm’s 50-day simple moving average is $4.90 and its 200 day simple moving average is $5.45. The stock has a market cap of $1.09 billion, a P/E ratio of -4.46 and a beta of 1.96.

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.