Needham upgrades BioCryst to Buy, sees selloff provide attractive entry

Needham upgraded BioCryst to Buy from Hold with a $14 price target. The stock has come under significant pressure following the company’s Q4 earnings update and a setback with the early-stage BCX10013 program., but the sell-off also provides an "attractive entry opportunity", the analyst tells investors in a research note. The firm adds that the sell-off was likely overdone and that BioCryst’s 25% year-to-date decline brought its shares to level that fails to adequately capture Orladeyo’s sales and growth trajectory.