BioCryst Pharmaceuticals (NASDAQ:BCRX) Stock Price Down 4.4% - Here's What Happened

BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX - Get Free Report)'s stock price was down 4.4% during mid-day trading on Wednesday . The stock traded as low as $7.91 and last traded at $7.95. Approximately 3,370,497 shares changed hands during mid-day trading, an increase of 22% from the average daily volume of 2,757,389 shares. The stock had previously closed at $8.31.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Evercore ISI raised their target price on BioCryst Pharmaceuticals from $10.00 to $12.00 and gave the company an "outperform" rating in a research note on Monday, January 13th. Needham & Company LLC raised their price objective on BioCryst Pharmaceuticals from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $11.00 target price (up from $10.00) on shares of BioCryst Pharmaceuticals in a research report on Tuesday, February 25th. HC Wainwright reissued a "buy" rating and set a $30.00 price target on shares of BioCryst Pharmaceuticals in a research report on Tuesday, February 25th. Finally, JMP Securities reissued a "market outperform" rating and set a $18.00 price objective on shares of BioCryst Pharmaceuticals in a research note on Friday, January 31st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, BioCryst Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $15.57.

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BioCryst Pharmaceuticals Stock Performance

The stock has a market cap of $1.61 billion, a PE ratio of -12.61 and a beta of 1.85. The firm has a 50-day moving average price of $8.15 and a 200-day moving average price of $7.87.

BioCryst Pharmaceuticals (NASDAQ:BCRX - Get Free Report) last issued its earnings results on Monday, February 24th. The biotechnology company reported ($0.13) earnings per share (EPS) 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 $126.64 million. During the same period in the previous year, the business earned $0.28 earnings per share. The business's revenue was up 40.8% on a year-over-year basis. As a group, sell-side analysts anticipate that BioCryst Pharmaceuticals, Inc. will post -0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On BioCryst Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BCRX. Wealth Enhancement Advisory Services LLC increased its holdings in shares of BioCryst Pharmaceuticals by 44.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 17,344 shares of the biotechnology company's stock worth $132,000 after purchasing an additional 5,340 shares in the last quarter. Principal Financial Group Inc. increased its holdings in BioCryst Pharmaceuticals by 1,058.1% in the 3rd 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. Aigen Investment Management LP increased its holdings in BioCryst Pharmaceuticals by 75.0% in the 3rd quarter. Aigen Investment Management LP now owns 28,661 shares of the biotechnology company's stock worth $218,000 after buying an additional 12,280 shares in the last quarter. Counterweight Ventures LLC raised its position in BioCryst Pharmaceuticals by 591.7% in the 3rd quarter. Counterweight Ventures LLC now owns 93,384 shares of the biotechnology company's stock worth $710,000 after buying an additional 79,884 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in BioCryst Pharmaceuticals during the 3rd quarter valued at about $412,000. 85.88% of the stock is owned by institutional investors.

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.