Market Overview

UPDATE: Bank of America Resumes Coverage on BioCryst Pharmaceuticals with Neutral Rating, $2 PT

Related BCRX
Mid-Afternoon Market Update: Guess? Jumps On Earnings Beat; Signet Jewelers Shares Tumble
Mid-Day Market Update: ServiceNow Jumps On Strong Q1 Results; Trueblue Shares Slide
Singapore confirms locally transmitted Zika cases (Seeking Alpha)

In a report published Monday, Bank of America resumed coverage on BioCryst Pharmaceuticals (NASDAQ: BCRX) with a Neutral rating and $2.00 price target.

Bank of America noted, “We are resuming coverage of BCRX with a Neutral rating and PO of $2, following the failed merger attempt with Presidio, the terminated phase 3 program for peramivir in influenza, and the halted development of the HCV nuc ‘5191. Two remaining pipeline products, ‘4161, an oral kallikrein inhibitor for hereditary angioedema and ‘4430, a broad-spectrum anti-viral for hemorrhagic fevers, are both in early stage development. Given the extent of the clinical setbacks for BCRX, investor confidence in this pipeline is likely quite low and we think largely reflected in the stock. We offset the potential upside from even modest pipeline advances with the dilutive risks of an equity offering, given the company now has only 15-18 months of cash.”

BioCryst Pharmaceuticals closed on Friday at $1.65.

Latest Ratings for BCRX

Aug 2016PiperJaffrayUpgradesNeutralOverweight
Aug 2016JefferiesMaintainsHold
Aug 2016JMP SecuritiesDowngradesOutperformMarket Perform

View More Analyst Ratings for BCRX
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Initiation Analyst Ratings


Related Articles (BCRX)

View Comments and Join the Discussion!