Yesterday was a horrendous day for shareholders of BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX), as the stock tanked big time in response to failed drug studies for a treatment called avoralstat. Today, however, investors apparently are flocking back to the stock, perhaps in efforts to grab shares at the new discounted rate.
We must keep in mind that BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) has other drugs that they are working on, including BCX7353. All drug companies face failures at one point or another, so perhaps yesterday’s massive sell-off was an overreaction.
The stock is up 11.24% or $0.2 following the news, hitting $1.98 per share. About 133,914 shares traded hands. BCRX has declined 88.24% since July 6, 2015 and is downtrending. It has underperformed the S&P500 by 78.77%.
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 640.91% above today’s ($1.98) 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 dived, 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 $145.21 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.