BioCryst Pharmaceuticals (NASDAQ:BCRX) Shares Gap Down on Disappointing Earnings

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX)’s stock price gapped down before the market opened on Monday following a weaker than expected earnings announcement. The stock had previously closed at $9.21, but opened at $8.87. BioCryst Pharmaceuticals shares last traded at $8.06, with a volume of 1,452,227 shares changing hands.

The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.06). The company had revenue of $131.50 million for the quarter, compared to the consensus estimate of $130.05 million. During the same period in the prior year, the firm posted $0.28 earnings per share. BioCryst Pharmaceuticals’s quarterly revenue was up 40.8% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $18.00 price target on shares of BioCryst Pharmaceuticals in a research note on Friday, January 31st. Evercore ISI upped their target price on shares of BioCryst Pharmaceuticals from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. Barclays lifted their price target on shares of BioCryst Pharmaceuticals from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and issued a $10.00 price objective on shares of BioCryst Pharmaceuticals in a report on Tuesday, November 5th. Finally, Needham & Company LLC lifted their target price on shares of BioCryst Pharmaceuticals from $14.00 to $15.00 and gave the company a “buy” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Institutional Investors Weigh In On BioCryst Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Xponance Inc. boosted its holdings in shares of BioCryst Pharmaceuticals by 9.1% during the 4th quarter. Xponance Inc. now owns 14,896 shares of the biotechnology company’s stock valued at $112,000 after acquiring an additional 1,242 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in BioCryst Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,483 shares of the biotechnology company’s stock valued at $57,000 after buying an additional 1,322 shares during the last quarter. Sei Investments Co. raised its stake in BioCryst Pharmaceuticals by 2.8% during the 4th quarter. Sei Investments Co. now owns 57,190 shares of the biotechnology company’s stock valued at $430,000 after buying an additional 1,537 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of BioCryst Pharmaceuticals by 19.4% in the 3rd quarter. Captrust Financial Advisors now owns 16,274 shares of the biotechnology company’s stock worth $124,000 after buying an additional 2,644 shares during the last quarter. Finally, Creative Planning grew its holdings in shares of BioCryst Pharmaceuticals by 5.9% in the third quarter. Creative Planning now owns 49,347 shares of the biotechnology company’s stock worth $375,000 after acquiring an additional 2,734 shares during the period. Institutional investors own 85.88% of the company’s stock.

BioCryst Pharmaceuticals Price Performance

The business has a 50-day moving average of $8.01 and a 200 day moving average of $7.84. The company has a market cap of $1.68 billion, a PE ratio of -13.26 and a beta of 1.75.

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.