BioCryst Pharmaceuticals, Inc. (BCRX) Stock Crashes 65% After Avoralstat Drug Fails Studies


BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) shares are trading down about 65% in the pre-market this morning, after it was just announced that a study for one of their drugs did not go so well. Oral ProphylaxiS-2 (OPuS-2), a clinical trial for avoralstat, a treatment for hereditary angiodema attacks, did not show any significant reduction in attacks for those taking the drug, compared to the placebo. This is disappointing news for shareholders of the stock.

“OPuS-2 was a well-designed and executed trial that gave us a clear answer; this dosage form of avoralstat is not a viable formulation to move forward,” Jon P. Stonehouse, President and CEO of BioCryst Pharmaceuticals explained. “Our other opportunity to achieve higher exposure of an oral kallikrein inhibitor is with BCX7353 – we expect results from the BCX7353 APeX-1 dose ranging study in HAE patients by year end.”

If this next study suceeds, investors may completely forget about this study, but that sill awaits results. The stock closed at $6.14 during the last trading session. It is down 59.34% since July 2, 2015 and is downtrending. It has underperformed the S&P500 by 52.04%.

From a total of 3 analysts covering BioCryst Pharmaceuticals (NASDAQ:BCRX) stock, 2 rate it a “Buy”, 1 a “Sell”, and 0 a “Hold”. This means that 67% of the ratings are positive. The highest target price is $16 while the lowest target price is $10. The mean of all analyst targets is $14.67 which is 138.93% above today’s ($6.14) stock price. BioCryst Pharmaceuticals was the topic of 8 analyst reports since August 7, 2015 according to the firm StockzIntelligence Inc. Jefferies upgraded shares on January 6 to a “Buy” rating. Zacks upgraded BCRX stock in a recent report from August 7 to a “Sell” rating.

The institutional sentiment decreased to 0.98 in Q2 2015. It’s down 1.31, from 2.29 in 2015Q2. The ratio turned negative, as 22 funds sold all their BioCryst Pharmaceuticals, Inc. shares they owned while 41 reduced their positions. 20 funds bought stakes while 42 increased their total positions. Institutions now own 71.69 million shares which is 13.88% more than the previous share count of 62.96 million in 2015Q2.

Rtw Investments Llc holds 7.89% of its total portfolio in BioCryst Pharmaceuticals, Inc., equating to 2.19 million shares. Emory University owns 129,415 shares representing 3.82% of their total US portfolio. Moreover, Dafna Capital Management Llc has 2.93% of their total portfolio invested in the company, equating to 258,642 shares. The Massachusetts-based Cormorant Asset Management Llc has a total of 1.97% of their portfolio invested in the stock. Ra Capital Management Llc, a Massachusetts-based fund reported 1.20 million shares owned.

BioCryst Pharmaceuticals, Inc. is a biotechnology company. The company has a market cap of $425.35 million. The Firm designs, optimizes and develops small molecule drugs that block enzymes involved in the pathogenesis of diseases. It currently has negative earnings. The Firm focuses on the treatment rare diseases.