Aspire Biopharma faces potential Nasdaq delisting after compliance shortfall
Investing.com - TD Cowen has reinstated coverage of BioCryst Pharmaceuticals (NASDAQ:BCRX) with a Buy rating and a $30.00 price target following the completion of the company’s European transaction. Currently trading at $6.42, the stock shows significant upside potential according to InvestingPro analysis, which indicates the stock is currently undervalued.
The firm cited BioCryst’s acquisition of ATXS for approximately $700 million enterprise value as a key factor in its positive outlook. This acquisition brings navenibart, a plasma kallikrein monoclonal antibody with quarterly or biannual dosing options, into BioCryst’s portfolio. The company’s strong financial position is reflected in its current ratio of 2.25, indicating ample liquidity to support this strategic move.
TD Cowen noted that navenibart has demonstrated strong proof of concept in hereditary angioedema (HAE) prophylaxis, with Phase III results expected by early 2027.
The research firm projects that both Orladeyo and navenibart each represent potential $1 billion peak revenue drugs that should strengthen BioCryst’s position in the HAE market.
According to TD Cowen, the ATXS acquisition will support momentum for BioCryst’s existing Orladeyo treatment, further solidifying the company’s presence in the HAE treatment landscape.
In other recent news, BioCryst Pharmaceuticals has made headlines with its strategic acquisition of Astria Therapeutics. The acquisition values Astria at approximately $920 million in total equity value, with Astria shareholders set to receive $8.55 in cash and 0.59 shares of BioCryst common stock for each share they own. This move has prompted several analyst reactions, including a price target raise by Jefferies to $15 and a similar increase by RBC Capital, also to $15, both firms maintaining positive ratings. Citizens went further, raising its price target to $27 while keeping a Market Outperform rating. However, Evercore ISI downgraded BioCryst from Outperform to In Line, reducing its price target to $8 due to rising competition in the hereditary angioedema treatment market. The acquisition has also led to a 40% surge in Astria’s stock, while BioCryst shares experienced a decline. These developments reflect BioCryst’s strategic efforts to bolster its position in the hereditary angioedema market amid increasing competition.
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