Market Overview

UPDATE: Bank of America Downgrades BioCryst Pharmaceuticals on Valuation


In a report published Wednesday, Bank of America analyst Steve Byrne downgraded BioCryst Pharmaceuticals (NASDAQ: BCRX) from Neutral to Underperform, but raised the price target from $2.00 to $3.00.

In the report, Bank of America noted, “We raised our PO for BCRX to $3 (from $2) on favorable phase 1 data for BCX4161 in hereditary angioedema (HAE) but lowered our rating to Underperform following the recent doubling in market cap and our cautious view of phase 1 assets. Our discussions with HAE experts indicated a significant potential for oral kallikrein blockers to improve upon current IV-based prophylaxis treatments. However, we model limited value for this product pending additional data in HAE patients. We view the key risks for ‘4161 to be a potential safety signal or inadequate efficacy in HAE patients (phase 2 starts near YE). Also, subQ formulations of IV drugs Cinryze and Berinert are in trials and could present additional competition. Potential upside could come from positive phase 2 data in 2014 or from improved dosing in one of BCRX' 2nd generation kallikrein inhibitors (‘4161 is 4 tablets 3x/day). A take-out also represents a significant upside, but unlikely in our view before phase 2 data.”

BioCryst Pharmaceuticals closed on Tuesday at $3.98.

Latest Ratings for BCRX

Nov 2019UpgradesNeutralBuy
May 2019DowngradesOutperformSector Perform
Apr 2019MaintainsEqual-WeightEqual-Weight

View More Analyst Ratings for BCRX
View the Latest Analyst Ratings

Posted-In: Bank of America Steve ByrneAnalyst Color Downgrades Analyst Ratings


Related Articles (BCRX)

View Comments and Join the Discussion!

Latest Ratings

TORCCantor FitzgeraldDowngrades3.0
CIDMCanaccord GenuityMaintains1.5
TDGCanaccord GenuityMaintains620.0
DLPNCanaccord GenuityMaintains1.6
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Traders in Oil States Respond to News Co. Looking to Spin-Off Accommodations Unit Into Separate Publicly-Traded Co.

Tesla Fanatics Call Citron a Lemon (TSLA)