BioCryst Pharmaceuticals Quarterly Update; Roth Capital Reiterates Buy
In a research note issued August 6, Roth Capital analyst Ed Arce reiterated a Buy rating on BioCryst Pharmaceuticals (BCRX) with a $20 price target, following the company’s second quarter result, which included a net loss of ($0.23) per diluted share on revenues of $1.5M, versus Arce’s estimate of a ($0.24) net loss per share on revenues of $2.2M.
Arce commented: “With proceeds from the recent $115M equity raise in hand, BioCryst is proceeding with plans to initiate a study of lead drug, BCX4161, in 4Q14, in a larger Phase IIb trial (OPuS-2) for the chronic treatment of patients with hereditary angioedema (HAE)”. He continued, “We continue to expect approval of IV peramivir for influenza by its December 23 PDUFA date, and we model a 1H15 HHS contract award of $120M (~$2.00/share) for the Strategic National Stockpile (SNS)”.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ed Arce has a total average return of 32% and a 50% success rate. Arce has a 175.8% average return when recommending BCRX, and is ranked #206 out of 3206 analysts.
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