BioCryst Pharmaceuticals (NASDAQ:BCRX) Trading Up 5.5% Following Earnings Beat

Shares of BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) were up 5.5% during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $5.70 and last traded at $5.56. Approximately 774,886 shares changed hands during trading, a decline of 77% from the average daily volume of 3,331,300 shares. The stock had previously closed at $5.27.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its stake in shares of BioCryst Pharmaceuticals by 17,500.0% during the third quarter. Fifth Third Bancorp now owns 3,520 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 3,500 shares in the last quarter. 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 acquiring an additional 2,388 shares in the last quarter. Quarry LP purchased a new position in shares of BioCryst Pharmaceuticals in the 4th quarter valued at $54,000. Tower Research Capital LLC TRC raised its position in shares of BioCryst Pharmaceuticals by 131.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,420 shares of the biotechnology company’s stock worth $62,000 after acquiring an additional 5,912 shares in the last quarter. Finally, JGP Global Gestao de Recursos Ltda. purchased a new stake in shares of BioCryst Pharmaceuticals during the 4th quarter worth $64,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.

BioCryst Pharmaceuticals Price Performance

The company has a market cap of $1.05 billion, a P/E ratio of -4.77 and a beta of 1.96. The business has a 50-day moving average of $4.89 and a two-hundred day moving average of $5.45.

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.