Piper Sandler analyst Christopher Raymond keeps an Overweight rating on BioCryst with a $19 price target following this morning’s disclosure that development of BCX9930 is being discontinued. The news "should not shock anybody" given the drug’s renal safety signal and recent developments in the competitive space, Raymond tells investors in a research note. The analyst likes the decision to discontinue BCX9930 now rather than waiting for mid-2023 to make the decision. He believes the news will be well received by many investors and remains a buyer of the stock. His price target is based on Orladeyo alone.
Published first on TheFly
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