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Fly News Breaks for May 24, 2019
BCRX
May 24, 2019 | 08:37 EDT
As previously reported, RBC Capital analyst Brian Abrahams downgraded BioCryst to Sector Perform from Outperform and lowered his price target to $4.50 from $16. The analyst cites the "disappointing" efficacy data for BCX7353, relegating the drug's potential to a "smaller niche role" even with discount pricing. Abrahams adds that although approvability risks for '7353 may be unfounded and the stock may bounce, he believes that the Street will have to turn more confident about its future revenues to offset the investments in filing and commercialization.
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