Pictet Asset Management SA, a prominent institutional investor, has increased its position in BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX) by 6.3% during the first quarter of this year. According to their recent filing with the Securities and Exchange Commission (SEC), Pictet Asset Management SA now owns 5,618,372 shares of the biotechnology company’s stock, after acquiring an additional 333,024 shares during the first quarter. At the end of this reporting period, these shares were estimated to be worth approximately $46,857,000.
With this latest move, Pictet Asset Management SA now holds around 2.97% of BioCryst Pharmaceuticals’ outstanding stock. The increase in their stake further demonstrates their confidence in the company and its potential for growth in the market.
BioCryst Pharmaceuticals opened trading at $7.00 on Friday. Over the past year, the stock has experienced a low of $6.62 and a high of $15.12. Currently, the company has a market capitalization of $1.33 billion and a price-to-earnings (P/E) ratio of -5.43. Furthermore, it has a beta value of 1.90.
The fifty-day moving average for BioCryst Pharmaceuticals stands at $7.28 while its two-hundred-day moving average is recorded at $8.20 as per available data.
Investors who closely follow BioCryst Pharmaceuticals may find these recent developments intriguing and worthy of consideration for investment purposes.
BioCryst Pharmaceuticals, Inc.
Updated on: 03/12/2023
Debt to equity ratio: Sell
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Sell
DCF: Strong Buy
2:00 AM (UTC)
Date:04 December, 2023
|Analyst / firm||Rating|
Cowen & Co.
Shifts in Holdings and Analyst Recommendations Drive Changes for BioCryst Pharmaceuticals (BCRX)
In recent news surrounding BioCryst Pharmaceuticals (NASDAQ:BCRX), hedge funds and institutional investors have made notable modifications to their holdings with the company. Zurcher Kantonalbank Zurich Cantonalbank, for instance, increased its holdings in shares of BioCryst Pharmaceuticals by 5.3% during the fourth quarter. This move allowed Zurcher Kantonalbank Zurich Cantonalbank to own 26,667 shares of the biotechnology company’s stock, which were valued at $306,000 after purchasing an additional 1,345 shares in the last quarter.
Legal & General Group Plc also saw a slight increase in its holdings within BioCryst Pharmaceuticals during the fourth quarter. By acquiring an additional 1,415 shares, Legal & General Group Plc’s ownership now stands at 164,868 shares of the biotechnology company’s stock valued at $1,893,000.
Another institutional investor that raised its stockholdings in BioCryst Pharmaceuticals is Arizona State Retirement System. The fund purchased an extra 1,548 shares during the first quarter of this year and now owns a total of 54,017 shares worth approximately $451,000.
Similarly, Zurcher Kantonalbank Zurich Cantonalbank once again augmented its stake in BioCryst Pharmaceuticals by 6.2% during the first quarter of this year. This move resulted in Zurcher Kantonalbank Zurich Cantonalbank owning a grand total of 28,330 shares valued at $236,000.
Lastly, Fairfield Bush & Co., a new player on the scene when it comes to BioCryst Pharmaceuticals’ stocks acquisitions joined forces with other seasoned investors and acquired a new stake during the first quarter valued at $34,000.
It is important to note that at present approximately 89.59% of BioCryst Pharmaceuticals’ stock is owned by institutional investors and hedge funds.
Moreover, as part of the company’s recent news, Director Machelle Sanders sold 4,000 shares of BioCryst Pharmaceuticals stock in a transaction on Thursday, June 15th. The average price per share was $7.98, amounting to a total value of $31,920.00. Following the sale, Sanders now directly holds 25,611 shares of the company’s stock valued at $204,375.78.
Shifting the focus towards BioCryst Pharmaceuticals’ financial performance and prospects for growth, the biotechnology company recently revealed its earnings results on Thursday, August 3rd. For the quarter in question, BioCryst Pharmaceuticals reported earnings per share (EPS) of ($0.24), which exceeded market expectations by $0.01 as per consensus estimates that predicted an EPS of ($0.25). In terms of revenue during this period, the firm generated $81.01 million compared to analysts’ expected figure of $81.42 million.
Notably, BioCryst Pharmaceuticals experienced a 24.2% increase in revenue year-over-year for this quarter compared to the same period in the previous year when it earned EPS of ($0.32). Based on current market projections from equities analysts covering this stock, BioCryst Pharmaceuticals is anticipated to post -$0.96 EPS for this fiscal year as a group.
Various equity research analysts have also provided their insights on BioCryst Pharmaceuticals lately. One noteworthy example comes from Bank of America who upgraded their rating on the stock from “neutral” to “buy” and set a price target at $10.00 per share in a research note issued on July 13th.
Other analysts weighing in include StockNews.com who mentioned that they maintain a “hold” rating on BioCryst Pharmaceuticals’ stock after assuming coverage.
On another positive note, Jefferies Financial Group upgraded their rating on BioCryst Pharmaceuticals from “hold” to “buy” while setting a price target at $11.00 per share in a research note published on August 4th.
Needham & Company LLC also reiterated their “buy” rating and lowered their price target from $14.00 to $12.00 per share in response to BioCryst Pharmaceuticals’ performance during the same quarter.
Evercore ISI, on the other hand, decided to reduce its price target on shares of BioCryst Pharmaceuticals from $13.00 to $10.00 while maintaining an “outperform” rating on the stock.
In aggregate, two research analysts recommend holding positions in BioCryst Pharmaceuticals’ stock while six analysts express a sentiment of buying shares. On average, Bloomberg data reveals that the stock is assigned a “Moderate Buy” rating with consensus price targets set at $13.50 per share.
It is clear that changes are occurring within BioCryst Pharmaceuticals as institutional investors have adjusted their holdings of the company’s stock, directors selling shares, and equity research analysts providing various outlooks and recommendations on the stock’s performance. As the biotechnology company continues to navigate these developments and demonstrates steady revenue growth, investors will look forward to seeing how these factors influence future market reactions and investment decisions related to BioCryst Pharmaceuticals (BCRX