BioCryst Pharmaceuticals (NASDAQ:BCRX) was downgraded by equities research analysts at Bank of America Corp. from a “neutral” rating to an “underperform” rating in a research note issued to investors on Wednesday, StockRatingsNetwork reports. They currently have a $3.00 target price on the stock, up from their previous target price of $2.00. Bank of America Corp.’s target price points to a potential downside of 24.62% from the company’s current price.
The analysts wrote, “We raised our PO for BCRX to $3 (from $2) on favorable phase 1 data for BCX4161 in hereditary angioedema (HAE) but lowered our rating to Underperform following the recent doubling in market cap and our cautious view of phase 1 assets. Our discussions with HAE experts indicated a significant potential for oral kallikrein blockers to improve upon current IV-based prophylaxis treatments. However, we model limited value for this product pending additional data in HAE patients. We view the key risks for ‘4161 to be a potential safety signal or inadequate efficacy in HAE patients (phase 2 starts near YE). Also, subQ formulations of IV drugs Cinryze and Berinert are in trials and could present additional competition. Potential upside could come from positive phase 2 data in 2014 or from improved dosing in one of BCRX’ 2nd generation kallikrein inhibitors (‘4161 is 4 tablets 3x/day). A take-out also represents a significant upside, but unlikely in our view before phase 2 data.”
A number of other firms have also recently commented on BCRX. Analysts at JMP Securities raised their price target on shares of BioCryst Pharmaceuticals from $3.00 to $5.00 in a research note to investors on Monday, July 22nd. They now have an “outperform” rating on the stock. Separately, analysts at MLV Capital raised their price target on shares of BioCryst Pharmaceuticals from $3.00 to $6.50 in a research note to investors on Thursday, July 25th. They now have a “buy” rating on the stock. Finally, analysts at Noble Financial upgraded shares of BioCryst Pharmaceuticals from a “hold” rating to a “buy” rating in a research note to investors on Tuesday, July 23rd.
BioCryst Pharmaceuticals (NASDAQ:BCRX) opened at 3.98 on Wednesday. BioCryst Pharmaceuticals has a 52-week low of $1.08 and a 52-week high of $5.02. The stock’s 50-day moving average is currently $2.23. The company’s market cap is $211.5 million.
BioCryst Pharmaceuticals (NASDAQ:BCRX) last released its earnings data on Tuesday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.06. The company had revenue of $3.60 million for the quarter, compared to the consensus estimate of $1.31 million. During the same quarter in the previous year, the company posted ($0.13) earnings per share. The company’s revenue for the quarter was down 70.9% on a year-over-year basis. Analysts expect that BioCryst Pharmaceuticals will post $-0.47 EPS for the current fiscal year.
BioCryst Pharmaceuticals, Inc (NASDAQ:BCRX) is a biotechnology company.
