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

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) shares gapped down before the market opened on Monday following a dissappointing 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 trading hands.

The biotechnology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.06). The business had revenue of $131.50 million for the quarter, compared to analyst estimates of $130.05 million. The company’s revenue for the quarter was up 40.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 EPS.

Analyst Ratings Changes

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

Institutional Investors Weigh In On BioCryst Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Counterweight Ventures LLC grew its stake in BioCryst Pharmaceuticals by 591.7% during the third quarter. Counterweight Ventures LLC now owns 93,384 shares of the biotechnology company’s stock valued at $710,000 after acquiring an additional 79,884 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of BioCryst Pharmaceuticals by 40.7% in the third quarter. The Manufacturers Life Insurance Company now owns 299,152 shares of the biotechnology company’s stock worth $2,274,000 after purchasing an additional 86,571 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of BioCryst Pharmaceuticals by 1,058.1% in the third quarter. Principal Financial Group Inc. now owns 411,414 shares of the biotechnology company’s stock worth $3,127,000 after buying an additional 375,890 shares in the last quarter. Rice Hall James & Associates LLC lifted its position in shares of BioCryst Pharmaceuticals by 4.0% in the third quarter. Rice Hall James & Associates LLC now owns 2,163,743 shares of the biotechnology company’s stock worth $16,444,000 after buying an additional 84,102 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in BioCryst Pharmaceuticals by 16.9% during the third quarter. Fisher Asset Management LLC now owns 3,338,062 shares of the biotechnology company’s stock valued at $25,369,000 after buying an additional 481,359 shares during the last quarter. Institutional investors own 85.88% of the company’s stock.

BioCryst Pharmaceuticals Stock Performance

The firm has a market cap of $1.68 billion, a PE ratio of -13.26 and a beta of 1.75. The firm has a fifty day simple moving average of $8.01 and a two-hundred day simple moving average of $7.84.

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.