In a research report published Thursday, H.C. Wainwright analyst Andrew Fein reiterated a Buy rating on BioCryst (NASDAQ:BCRX) with a $24 price target, following the company’s fourth-quarter results, posting revenues of $5.4M, down from $10.5M in 4Q13 primarily due to expiration of the Biomedical Advanced Research and Development Authority/Health and Human Services contract for peramivir development.
Fein noted, “While 2014 was mostly dominated by muted anxiety over a Form 483 hold on the contract manufacturer of Rapivab, FDA gave an official nod to the drug on December 19. By December 26, BCRX had Rapivab stocked at specialty distributers in time to begin tackling the current flu season, resulting in $33K in revenue recorded from product sale (and with $5.6M in deferred revenue representing the distributors’ kickoff stockpile). Beyond Rapivap sales through distributors for seasonal flu, we think the main focus of management in 2015 will shift toward securing a procurement contract with the government, which would generate significant non-dilutive cash for the company.”
Bottom line, “With ‘4161 development on track, a treatment paradigm-changing, oncedaily second generation inhibitor entering the clinic imminently, and Rapivab now approved and generating early revenue, we reiterate our bullish view on the company and our Buy rating.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Andrew Fein has a total average return of 32.2% and a 69.4% success rate. Fein has a -17.2% average return when recommending BCRX, and is ranked #92 out of 3479 analysts.