TD Cowen reinstated coverage of BioCryst (BCRX) with a Buy rating and $30 price target. The firm is citing the company’s proposed $700MM EV acquisition of Astria Therapeutics (ATXS) injectable HAE prophylaxis agent navenibart – with closing expected in Q1, the analyst tells investors in a research note. Navenibart is a plasma kallikrein inhibitor in Phase 3 study, with high key opinion leader interest in the trial given the well-known target and strong proof of concept for dosing, and while TD believes that navenibart is derisked, the stock reaction on the news reflects competitive fears on both Orladeyo/navenibart and corresponding controversy on peak sales, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BCRX:
- BioCryst weakness presents ‘compelling’ buying opportunity, says RBC
- BioCryst’s Strategic Acquisition of ATXS: A Catalyst for Long-Term Growth and Profitability
- BioCryst’s Strategic Acquisition of Astria Therapeutics Boosts Market Position and Financial Outlook
- BioCryst price target raised to $15 from $14 at Jefferies
- Astria Therapeutics downgraded to Hold from Buy at Jefferies