BioCryst stock price target raised to $27 from $17 at Citizens

Investing.com - Citizens has raised its price target on BioCryst Pharmaceuticals (NASDAQ:BCRX) to $27.00 from $17.00 while maintaining a Market Outperform rating. The stock, currently trading at $6.42, sits near its 52-week low of $6.00, with InvestingPro data indicating potential undervaluation.

The price target increase follows BioCryst’s acquisition of Astria’s navenibart, a plasma kallikrein inhibitor for hereditary angioedema (HAE) that can be administered every three or six months via injection.

Citizens views the acquisition as strategically sound, noting that navenibart complements BioCryst’s existing oral HAE treatment Orladeyo and could potentially become a best-in-class injectable option for patients.

The $700 million implied enterprise value of the deal represents a 53% premium, which Citizens indicates is in line with similar-sized acquisitions in the sector this year, including Jazz/CMRX (72% premium) and SUPN/SAGE (27% premium).

The Phase 3 ALPHA-ORBIT trial for navenibart is expected to report results in early 2027, evaluating both quarterly and biannual dosing regimens, with Citizens expecting positive outcomes for both schedules. With analysts maintaining a consensus Buy rating and InvestingPro identifying multiple growth indicators, investors seeking detailed analysis can access the full Pro Research Report, available exclusively to subscribers.

In other recent news, BioCryst Pharmaceuticals has announced several strategic moves that are capturing investor attention. The company plans to acquire Astria Therapeutics in a deal valued at approximately $920 million, which has been approved by both companies’ boards. This acquisition involves Astria shareholders receiving $8.55 in cash and 0.59 shares of BioCryst common stock per Astria share. Following this announcement, RBC Capital and Jefferies both raised their price targets for BioCryst to $15.00, citing the acquisition’s potential to enhance BioCryst’s hereditary angioedema (HAE) franchise. However, Evercore ISI downgraded BioCryst from Outperform to In Line, lowering the price target to $8.00 due to increasing competition in the HAE treatment space. In another development, BioCryst completed the sale of its European ORLADEYO business to Neopharmed Gentili for $250 million, with potential additional milestone payments of up to $14 million. This sale allows BioCryst to concentrate on its U.S. market while Neopharmed Gentili takes over European commercialization. These recent developments reflect BioCryst’s strategic focus on strengthening its position in the competitive HAE market.

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