BioCryst Pharma price target raised to $26 from $24 at Cantor Fitzgerald

Investing.com - Cantor Fitzgerald raised its price target on BioCryst Pharmaceuticals (NASDAQ:BCRX) to $26.00 from $24.00 on Wednesday, while maintaining an Overweight rating on the stock. The new target represents significant upside potential from the current price of $6.42, with InvestingPro data showing analyst targets ranging from $11 to $30.

The research firm’s updated financial model assumes similar long-term research and development (R&D) and selling, general, and administrative (SG&A) margins, which it noted could prove conservative.

The price target improvement primarily results from cost synergies Cantor Fitzgerald expects BioCryst to realize, according to the research note.

Cantor Fitzgerald expressed bullishness on the long-term potential of navenibart and BioCryst Pharmaceuticals .

The firm stated it is using pro forma estimated share count and net cash post-deal close in its discounted cash flow (DCF) analysis, which is not currently reported in financial statements.

In other recent news, BioCryst Pharmaceuticals has made headlines with its acquisition of Astria Therapeutics, a deal valued at approximately $700 million in enterprise value. This acquisition includes navenibart, a plasma kallikrein monoclonal antibody, which enhances BioCryst’s portfolio in hereditary angioedema (HAE) treatment. The transaction, approved by both companies’ boards, offers Astria shareholders $8.55 in cash and 0.59 shares of BioCryst common stock for each Astria share.

Following this acquisition, TD Cowen reinstated coverage of BioCryst with a Buy rating and set a price target of $30.00, noting the strategic significance of the deal. Similarly, Citizens raised its price target for BioCryst to $27.00, maintaining a Market Outperform rating due to the acquisition’s potential to strengthen BioCryst’s HAE franchise. RBC Capital also increased its price target to $15.00, highlighting the strategic leverage against emerging competition despite potential near-term dilution. Jefferies echoed this sentiment, raising its price target to $15.00 and maintaining a Buy rating. These developments reflect a positive outlook from analysts regarding BioCryst’s recent strategic moves.

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