Needham analyst Serge Belanger has maintained their bullish stance on BCRX stock, giving a Buy rating today.
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Serge Belanger has given his Buy rating due to a combination of factors including BioCryst’s strategic acquisition of Astria Therapeutics. This acquisition, valued at $920 million, positions BioCryst as a significant player in the hereditary angioedema (HAE) market. The deal brings in Astria’s promising late-stage kallikrein inhibitor, navenibart, which is currently undergoing Phase 3 trials and could potentially offer a best-in-class long-acting prophylactic treatment.
The addition of navenibart is expected to complement BioCryst’s existing product, Orladeyo, and enhance its market position by offering a broader range of treatment options. The anticipated launch of navenibart in 2028, with projected peak sales of $400 million to $500 million, alongside Orladeyo’s expected $1 billion in revenue, supports a positive outlook for BioCryst’s financial growth. Consequently, the price target has been adjusted to $20 to reflect the incorporation of Astria into BioCryst’s business model.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $15.00 price target.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BCRX in relation to earlier this year.