UPDATE: JMP Securities Raises PT on BioCryst Pharmaceuticals on Potential Game Changer

In a report published Wednesday, JMP Securities analyst Liisa A. Bayko reiterated a Market Outperform rating on

, and raised the price target from $5.00 to $8.00. In the report, JMP Securities noted, “Investors see BioCryst's oral kallikrein program as a potential game changer in HAE; we reiterate our Market Outperform rating and increase our price target to $8 from $5. Last week, BioCryst's CEO Jon Stonehouse received a warm welcome from investors for his oral kallikrein program for the prevention of hereditary angioedema attacks (HAE). The company is busy preparing to initiate a Phase 2a proof of concept (POC) study - the first in patients - to determine if BCX4161 can reduce the frequency of attacks in patients with HAE. Amongst a healthy degree of competition in the HAE prophylaxis market, we believe even modest efficacy could carve out a meaningful market opportunity for BioCryst given the number of patients who may consider initiating prophylaxis if there were an oral option. Additionally, a second drug candidate is targeting better bioavailability, which could deliver better efficacy in fewer doses..” BioCryst Pharmaceuticals closed on Tuesday at $6.44.