Oppenheimer downgrades Astria Therapeutics stock rating to Perform on BioCryst acquisition

Investing.com - Oppenheimer downgraded Astria Therapeutics (NASDAQ:ATXS) from Outperform to Perform following the company’s acquisition agreement with BioCryst Pharmaceuticals . The stock, which has surged about 13% in the past week and is trading near its 52-week high of $12.52, has shown strong momentum leading up to this announcement.

The rating change comes after Astria Therapeutics announced it had entered into a definitive acquisition agreement with BioCryst Pharmaceuticals (NASDAQ:BCRX).

Under the terms of the agreement, Astria will be acquired for $13 per share in a cash and stock transaction, according to Oppenheimer’s research note.

Oppenheimer has rescinded its price target for Astria Therapeutics as a result of the pending acquisition.

The transaction is anticipated to close in the first quarter of 2026, subject to regulatory approvals and other customary closing conditions.

In other recent news, BioCryst Pharmaceuticals has announced its agreement to acquire Astria Therapeutics in a cash and stock deal valued at approximately $700 million. This transaction values Astria at $13.00 per share, a 53% premium over its recent closing price. Astria shareholders will receive $8.55 in cash and 0.59 shares of BioCryst common stock for each share they own. Meanwhile, H.C. Wainwright has reiterated its Buy rating on Astria Therapeutics with a price target of $20.00, following significant developments in Astria’s clinical trials. Astria has initiated the ORBIT-EXPANSE long-term Phase 3 trial for navenibart, aimed at treating hereditary angioedema (HAE). This trial is part of Astria’s broader Phase 3 program and follows the pivotal ALPHA-ORBIT trial. Additionally, Astria is expanding its clinical presence by opening sites in the European Union for its ongoing Phase 3 ALPHA-ORBIT study. These developments highlight the company’s continued focus on advancing its treatment for HAE.

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