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

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX – Get Rating) shares gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $11.15, but opened at $12.00. BioCryst Pharmaceuticals shares last traded at $13.78, with a volume of 329,313 shares changing hands.

The biotechnology company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.04. During the same quarter last year, the company earned ($0.24) earnings per share.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. StockNews.com raised shares of BioCryst Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday. Piper Sandler cut their price target on shares of BioCryst Pharmaceuticals from $24.00 to $19.00 in a report on Thursday, May 5th. Cantor Fitzgerald reissued an “overweight” rating on shares of BioCryst Pharmaceuticals in a report on Monday, May 9th. Barclays boosted their price objective on BioCryst Pharmaceuticals from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Bank of America downgraded BioCryst Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $21.00 to $14.00 in a report on Monday, April 11th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, BioCryst Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $17.78.

Hedge Funds Weigh In On BioCryst Pharmaceuticals

A number of large investors have recently made changes to their positions in the business. Diversified Trust Co increased its holdings in shares of BioCryst Pharmaceuticals by 6.6% in the 2nd quarter. Diversified Trust Co now owns 19,408 shares of the biotechnology company’s stock valued at $205,000 after purchasing an additional 1,200 shares during the period. Semmax Financial Advisors Inc. increased its holdings in shares of BioCryst Pharmaceuticals by 389.6% in the 1st quarter. Semmax Financial Advisors Inc. now owns 1,699 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 1,352 shares during the period. Arizona State Retirement System increased its holdings in shares of BioCryst Pharmaceuticals by 2.9% in the 2nd quarter. Arizona State Retirement System now owns 50,043 shares of the biotechnology company’s stock valued at $529,000 after purchasing an additional 1,403 shares during the period. Kalos Management Inc. increased its holdings in shares of BioCryst Pharmaceuticals by 7.0% in the 4th quarter. Kalos Management Inc. now owns 25,359 shares of the biotechnology company’s stock valued at $340,000 after purchasing an additional 1,659 shares during the period. Finally, E Fund Management Co. Ltd. increased its holdings in shares of BioCryst Pharmaceuticals by 11.8% in the 1st quarter. E Fund Management Co. Ltd. now owns 16,641 shares of the biotechnology company’s stock valued at $271,000 after purchasing an additional 1,756 shares during the period. Institutional investors and hedge funds own 63.86% of the company’s stock.

BioCryst Pharmaceuticals Price Performance

The business has a fifty day moving average of $10.79 and a 200 day moving average of $12.78. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -12.22 and a beta of 2.20.

BioCryst Pharmaceuticals Company Profile

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BioCryst Pharmaceuticals, Inc, a biotechnology company, discovers novel, oral, and small-molecule medicines. 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.