RBC Capital analyst Brian Abrahams raised his price target on BioCryst to $16 and kept his Outperform rating, saying that in spite of the 30% stock price appreciation over the past two weeks, investors continue to undervalue the future opportunity and the likelihood of success of its lead drug BCX7353. The analyst is positive on the drug's potential in both Hereditary Angioedemas prophylaxis and in on-demand treatment, anticipating a "good probability of success" for its Phase 3 APEX-2 results anticipated in Q2 of next year. Abrahams believes that the on-demand setting of BCX7353 could yield nearly $200M in potential out-year revenues.