BioCryst stock holds $18 target, JMP bullish on trial results

On Monday, JMP Securities maintained a strong outlook on BioCryst Pharmaceuticals (NASDAQ:BCRX), reiterating a Market Outperform rating and an $18.00 price target, well above the current trading price of $8.61. According to InvestingPro data, analysts’ consensus remains bullish, with price targets ranging from $8 to $30. The firm’s positive stance is based on the APeX-P trial results for Orladeyo, a prophylactic therapy for hereditary angioedema (HAE) in pediatric patients.

The APeX-P trial has drawn attention due to Orladeyo’s effectiveness and better gastrointestinal (GI) tolerability in younger patients compared to adults and adolescents, a key factor considering GI issues often lead to treatment discontinuation. The trial, which is the largest to date for prophylactic HAE therapy in the 2-

The trial’s baseline demographics also suggest a larger unmet need than previously thought. BioCryst Pharma is on schedule to submit its supplemental New Drug Application (sNDA) for pediatric patients within the current year. According to management, there are approximately 500 diagnosed U.S. patients within the 2-

BioCryst’s conservative estimate of the addressable market represents an opportunity exceeding $100 million, which could add substantial value to the company’s current market capitalization of $1.8 billion. The company’s progress and the trial’s promising results have solidified JMP Securities’ optimistic view of BioCryst’s market potential and financial prospects. InvestingPro analysis shows the stock is currently slightly undervalued, with a "GOOD" overall Financial Health score. The stock has demonstrated strong momentum, delivering a 53.2% return over the past year. Discover more valuable insights and 10+ additional ProTips about BioCryst with an InvestingPro subscription.

In other recent news, BioCryst Pharmaceuticals reported a mixed financial performance for the fourth quarter of 2024. The company posted revenue of $131.53 million, surpassing analyst expectations of $127.17 million, marking a significant 40.8% year-over-year increase. However, the earnings per share (EPS) of ($0.13) fell short of the forecasted ($0.07), which has impacted investor sentiment. Despite the EPS miss, BioCryst has raised its 2025 revenue guidance for its Orladeyo treatment, projecting global net revenue between $535 million and $550 million, up from the previous range of $515 million to $535 million. Analysts at Piper Sandler and Citizens JMP maintained positive ratings on BioCryst, with Piper Sandler keeping an Overweight rating and a $23.00 price target, while Citizens JMP reiterated a Market Outperform rating with an $18.00 price target. H.C. Wainwright also reaffirmed a Buy rating with a $30.00 price target, highlighting optimism about BioCryst’s BCX17725 treatment for Netherton syndrome. The positive outlook is supported by the Inflation Reduction Act, which is expected to make Orladeyo more affordable for Medicare patients, potentially boosting patient retention. These developments are being closely watched by investors, as BioCryst continues to advance its pipeline and expand its market presence.

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