Avoro Capital Advisors LLC, an investment management firm, recently disclosed in its most recent filing with the Securities and Exchange Commission that it has increased its holdings in BioCryst Pharmaceuticals, Inc. by 15.1% during the first quarter of this year. The firm now owns 10,420,000 shares of the biotechnology company’s stock after acquiring an additional 1,370,000 shares in the quarter.
With this increase in holdings, BioCryst Pharmaceuticals represents approximately 1.3% of Avoro Capital Advisors LLC’s overall portfolio. This makes it the firm’s 19th largest position in terms of value. Based on its latest filing with the SEC, Avoro Capital Advisors LLC’s stake in BioCryst Pharmaceuticals is worth around $86,903,000.
In other news related to BioCryst Pharmaceuticals, Director Machelle Sanders recently sold 4,000 shares of the company’s stock in a transaction that took place on June 15th. The shares were sold at an average price of $7.98 per share for a total value of $31,920. Following this transaction, Sanders now holds 25,611 shares in the company valued at approximately $204,375.
The details of this transaction were disclosed through a document filed with the SEC and can be accessed through a provided link for further reference. It is worth noting that insiders currently own about 4.40% of BioCryst Pharmaceuticals’ stock.
BioCryst Pharmaceuticals is a biotechnology company focused on discovering and developing novel treatments for rare diseases such as hereditary angioedema and antiviral therapies targeting viral pathogens including influenza and coronavirus. With its dedicated team and innovative research approach, BioCryst Pharmaceuticals continues to make advancements in the fields of biotechnology and pharmaceuticals.
Investors should take note of Avoro Capital Advisors LLC’s increased holdings in BioCryst Pharmaceuticals as it reflects their confidence in the company’s potential for growth and profitability. The biotechnology sector has shown promising developments in recent years, with advancements in gene therapy and precision medicine offering new opportunities for both investors and patients.
As of September 12, 2023, this information provides valuable insights into the financial position of BioCryst Pharmaceuticals and its relationship with Avoro Capital Advisors LLC. Investors may find it beneficial to consider these factors when making informed decisions regarding their investment strategies.
BioCryst Pharmaceuticals, Inc.
Updated on: 07/12/2023
Debt to equity ratio: Sell
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Sell
DCF: Strong Buy
9:00 PM (UTC)
Date:07 December, 2023
|Analyst / firm||Rating|
Cowen & Co.
BioCryst Pharmaceuticals Receives Increased Interest from Hedge Funds and Institutional Investors, Shows Positive Earnings Growth
September 12, 2023 – BioCryst Pharmaceuticals, a biotechnology company listed on the NASDAQ under the symbol BCRX, has been attracting the attention of several hedge funds and institutional investors. This surge in interest is evident from recent transactions that show additions and reductions in their stakes in BioCryst Pharmaceuticals.
One of these hedge funds, Fairfield Bush & CO., took a new position in BioCryst Pharmaceuticals during the first quarter of this year. The value of their investment was approximately $34,000. Meanwhile, JPMorgan Chase & Co. increased its stake in the biotechnology company by 9.8% during the same period. They now own 200,281 shares valued at $3,256,000 after acquiring an additional 17,823 shares in the last quarter.
Bank of New York Mellon Corp also saw fit to increase its stake in BioCryst Pharmaceuticals by 4.0% during the first quarter. Their ownership now stands at 892,108 shares valued at $14,506,000 after acquiring an additional 34,176 shares in the last quarter. Similarly, American Century Companies Inc. raised its stake by an impressive 48.5% during the same period. They now own 59,450 shares valued at $967,000 after acquiring an additional 19,419 shares.
Adding to this list is MetLife Investment Management LLC which increased its stake by a substantial 57.0% during the first quarter. Their ownership currently stands at 97,361 shares valued at $1,583,000 after acquiring an additional 35,347 shares.
Interesting to note is that as much as 91.46% of BioCryst Pharmaceutical’s stock is owned by institutional investors.
Recent reports from brokerages have shed light on the sentiment toward BioCryst Pharmaceuticals as well. Jefferies Financial Group upgraded their rating for the stock from “hold” to “buy” and set a price objective of $11.00. Similarly, StockNews.com initiated coverage on BioCryst Pharmaceuticals with a “hold” rating.
Royal Bank of Canada also raised their target price from $8.00 to $9.00 and gave the stock a “sector perform” rating. Bank of America upgraded their rating from “neutral” to “buy” and set a target price of $10.00. Needham & Company LLC reaffirmed their “buy” rating and issued a target price of $12.00.
At present, two investment analysts have rated the stock as a hold, while six have given it a buy rating. According to Bloomberg data, the consensus rating for BioCryst Pharmaceuticals is currently labeled as “Moderate Buy,” with a consensus price target of $13.50.
On Tuesday, September 12th, shares of BioCryst Pharmaceuticals opened at $6.84 on NASDAQ. The company currently has a market capitalization of $1.30 billion and maintains a beta of 1.88, indicating higher volatility compared to the wider market.
Furthermore, the company’s fifty-day moving average stands at $7.18, while the 200-day moving average is recorded at $7.80.
During its most recent quarterly earnings report released on August 3rd, BioCryst Pharmaceuticals announced an EPS (earnings per share) figure of ($0.24), surpassing analysts’ estimates by $0.01 per share.
The company reported revenue totaling $81.01 million for the quarter, slightly lower than estimates which had projected revenue at approximately $81.42 million.
However, it’s important to note that BioCryst Pharmaceuticals still experienced significant growth in revenue year-over-year with an increase of 24%.
In comparison to the same period last year when they reported an EPS figure of ($0.32), this year’s results demonstrate the company’s progress in narrowing its losses.
Sell-side analysts’ forecasts show an expected EPS of -0.96 for BioCryst Pharmaceuticals, Inc. by the end of this current year.
In summary, BioCryst Pharmaceuticals has attracted notable attention from hedge funds and institutional investors, leading to additions and reductions in their stakes in the company. Despite mixed sentiments from brokerages, the stock shows promise with a consensus rating of “Moderate Buy.” With recent quarterly earnings surpassing expectations and steady revenue growth, BioCryst Pharmaceuticals is poised for potential success in the biotechnology industry.