JMP Securities maintains BioCryst stock with $18 target

Tuesday, JMP Securities reiterated its Market Outperform rating for BioCryst Pharmaceuticals (NASDAQ:BCRX) with a steady price target of $18.00, well above the current trading price of $9.05. According to InvestingPro data, analyst targets range from $8 to $30, with the stock currently appearing fairly valued based on proprietary Fair Value calculations. The focus of the affirmation is on the potential of BioCryst's drug Orladeyo, which is set to be highlighted through multiple poster presentations. These presentations will largely concentrate on the real-world efficacy of the medication.

During Sunday's late-breaking poster session, interim data from the ongoing open-label APeX-P trial of berotralstat in children aged 2 to under 12 years was revealed. This data demonstrated a median monthly attack rate of zero from months one to twelve. This promising result is particularly significant as it pertains to the treatment of hereditary angioedema (HAE) in a younger demographic. The company's strong clinical progress is reflected in its impressive 52.9% one-year price return and robust revenue growth of 29.9% over the last twelve months.

BioCryst is expected to stay on course to submit its supplemental New Drug Application (sNDA) for Orladeyo in pediatric HAE patients within the current year. The approval of this application could potentially expand the addressable market for Orladeyo by approximately 500 patients, indicating a notable opportunity for growth in the drug's use. With annual revenue of $412.6 million and a market capitalization of $1.87 billion, BioCryst shows strong market positioning. For deeper insights into BioCryst's growth potential and comprehensive financial analysis, check out the detailed Pro Research Report available on InvestingPro.

This development is part of BioCryst's broader efforts to enhance treatment options for HAE, a rare and potentially life-threatening condition characterized by recurrent episodes of severe swelling. The company's dedication to expanding the indications of Orladeyo to include pediatric patients underscores its commitment to addressing the needs of this patient group.

Investors and stakeholders in BioCryst Pharmaceuticals are keeping a close watch on the company's progress, particularly in light of the upcoming sNDA submission. The positive interim data from the APeX-P trial adds to the anticipation of Orladeyo potentially reaching a wider patient base, which could have a favorable impact on the company's growth and market position.

In other recent news, BioCryst Pharmaceuticals has seen significant developments related to its drug, ORLADEYO®. Portugal's National Authority of Medicines and Health Products, Infarmed, has recommended ORLADEYO® for routine prevention of hereditary angioedema attacks in patients aged 12 and older. Additionally, the company has projected net revenue for ORLADEYO® to be between $515 million and $535 million in 2025.

Analysts from JMP Securities and Evercore ISI have also weighed in on BioCryst's prospects. JMP Securities reiterated its Market Outperform rating with a price target of $18, based on the performance and market adoption of ORLADEYO®. Evercore ISI raised its price target for BioCryst to $12, citing the company's strong performance and preannounced 2024 Orladeyo revenue of $437 million.

Furthermore, BioCryst has announced an increase in the wholesale acquisition cost of ORLADEYO®. These are significant recent developments for the company. However, it's important to note that these developments are based on press release statements from BioCryst Pharmaceuticals and analyst notes, and actual results may vary.

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