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Fly News Breaks for April 1, 2015
DYAX, BCRX
Apr 1, 2015 | 07:37 EDT
JPMorgan believes shares of BioCryst (BCRX) could see additional weakness in the near-term after competitor Dyax (DYAX) reported better than expected Phase Ib results for its anti-kallikrein antibody for hereditary angioedema. The firm notes Dyax's DX-2930 competes with BioCryst's oral kallikrein inhibitor BCX4161. It views shares of BioCryst as "fairly washed out" at current levels given the weakness going into Dyax's data announcement, however, and sees potential for "meaningful upside" in the stock heading into key catalysts in the second half of 2015. JPMorgan thinks BioCryst is undervalued and keeps an Overweight rating on the name.
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