Fly News Breaks for August 6, 2019
Aug 6, 2019 | 11:30 EDT
Piper Jaffray analyst Tyler Van Buren reiterates an Overweight rating and $10 price target on BioCryst as he believes BCX7353 is a "viable product," while the rest of the pipeline is receiving little to no value. Having less than 12 months of cash is "clearly weighing" on the shares as the company heads toward a product launch in HAE prophylaxis, he acknowledges, but adds that he believes the company has several creative options at its disposal in addition to a potential strategic deal for ex-U.S. rights.
News For BCRX From the Last 2 Days
Nov 15, 2019 | 06:13 EST
BofA/Merrill analyst Tazeen Ahmad upgraded BioCryst to Buy from Neutral but lowered his price target to $4, down from $5. The analyst says that he has conducted doctor checks after the release of the ApeX-2 study results in hereditary angioedema earlier this year to determine whether his peak sales estimates for the HAE market for '7353 seemed reasonable. Ahmad notes that while the doctors still gave preference to Takeda's Takhzyro as the best option given its superior efficacy and infrequent dosing, they also expressed interest in '7353 thanks to its oral dosing convenience. Ahmad adds that he has been on the sidelines on BioCryst because of its funding needs, but sees this week's $55M equity raise boosting its cash cushion.