Wells Fargo on BioCryst

In a research note released Monday, Wells Fargo analyst Brian Abrahams upgraded BioCryst Pharmaceuticals, Inc. BCRX to Outperform from market Perform and increased his valuation range from $17.0 to $19.0. The original valuation range was $8.0 to $9.0. The analyst highlighted the fact that the company reported promising result for its lead drug BCX-4161 in a pilot study. Following the study itself, shares have already appreciated quite a bit. By the analyst is expecting the company to further appreciate as its HAE program progresses. Shares of BioCryst are up three percent on Monday and are up 60 percent year-to-date.