UPDATE: H.C. Wainwright & Co. Initiates Coverage on BioCryst Pharmaceuticals on Positive Expectations for Oral HAE Drug

In a report published Monday, H.C. Wainwright & Co. analyst Andrew S. Fein initiated coverage on BioCryst Pharmaceuticals BCRX with a Buy rating and $21.00 price target. In the report, H.C. Wainwright & Co. noted, “Biocryst's BCX4161 (a potent oral kallikrein inhibitor) recently reported full Phase 1 data in 87 healthy volunteers and is expected to report Phase 2a proof-of-concept data on 28-day dosing in 25 hereditary angioedema (HAE) patients in 2Q14. We believe that the primary value driver for BCRX shares is ‘4161, a novel oral prophylactic treatment for HAE (existing oral treatments are outdated and bear unwanted side effects). We believe that the ‘4161 opportunity could still be undervalued, as the clinical data is early and the expected dosing frequency is three times daily.” BioCryst Pharmaceuticals closed on Friday at $11.46.