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JMP Calls BioCryst's Oral Kallikrein 'Potential Game Changer,' Believes ViroPharma, Shire Could Be Interested

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Investors in shares of BioCryst Pharma (NASDAQ: BCRX) are pushing the stock nearly 3 percent higher Wednesday, potentially on the heels of some positive comments from JMP Securities' Liisa Bayko. Bayko boosted her price target on BioCryst shares from $5 to $8. The analyst maintains a Market Outperform rating on the stock.

Bayko noted "Investors see BioCryst's oral kallikrein program as a potential game changer in HAE." The company is currently prepping the commencement of a Phase 2a POC trial for kallikrein. "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."

If efficacy is demonstrated, the JMP analyst said, "...we believe there could be interest from potential acquirers, including established players such as Shire (NASDAQ: SHPG) and ViroPharma (NASDAQ: VPHM) or companies focused on rare diseases seeking to participate in this market."

Bayko suggests "...owning shares of BioCryst ahead of the POC data in 1Q14..."

With BioCryst shares last trading around $6.63, Bayko's new target represents potential upside of almost 21 percent.

Latest Ratings for BCRX

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

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