BioCryst Pharmaceuticals (NASDAQ:BCRX) Shares Gap Up on Strong Earnings

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX)’s share price gapped up before the market opened on Monday after the company announced better than expected quarterly earnings. 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 traded.

The biotechnology company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.06. The company had revenue of $92.80 million during the quarter, compared to analyst estimates of $85.62 million. The company’s quarterly revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.28) EPS.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BCRX. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of BioCryst Pharmaceuticals in a research report on Tuesday. JMP Securities raised their price objective on BioCryst Pharmaceuticals from $14.00 to $15.00 and gave the company a “market outperform” rating in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price objective on shares of BioCryst Pharmaceuticals in a research report on Tuesday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Institutional Trading of BioCryst Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in BCRX. Fifth Third Bancorp lifted its holdings in BioCryst Pharmaceuticals by 17,500.0% during the 3rd quarter. Fifth Third Bancorp now owns 3,520 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 3,500 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in BioCryst Pharmaceuticals by 96.4% in 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 acquired a new position in BioCryst Pharmaceuticals in the 4th quarter valued at $54,000. Tower Research Capital LLC TRC raised its holdings in 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 valued at $62,000 after acquiring an additional 5,912 shares in the last quarter. Finally, JGP Global Gestao de Recursos Ltda. acquired a new position in BioCryst Pharmaceuticals in the 4th quarter valued at $64,000. 85.88% of the stock is owned by institutional investors and hedge funds.

BioCryst Pharmaceuticals Stock Performance

The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -4.46 and a beta of 1.96. The company has a fifty day simple moving average of $4.90 and a two-hundred day simple 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.