Analyst Andrew Fein of H.C. Wainwright reiterated a Buy rating on BioCryst, retaining the price target of $30.00.
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Andrew Fein has given his Buy rating due to a combination of factors, primarily focusing on the strong market outlook for Orladeyo, BioCryst’s key product. Real-world evidence has shown that Orladeyo effectively reduces the frequency of HAE attacks, regardless of a patient’s C1-inhibitor status, which broadens its potential patient base. This effectiveness, combined with international consensus statements supporting its use, is expected to enhance payer confidence and close existing coverage gaps, thereby expanding its market reach.
Additionally, the market penetration of Orladeyo has been robust, with approximately 30% of the diagnosed market already utilizing the treatment. The company’s strategic efforts to increase both the breadth and depth of its market presence have resulted in a steady increase in new patient prescriptions and prescribers. Furthermore, BioCryst’s initiative to expand Orladeyo’s label to include pediatric patients is anticipated to further drive revenue growth. These factors collectively support the Buy rating, as they indicate a promising growth trajectory for BioCryst in the HAE treatment space.
Fein covers the Healthcare sector, focusing on stocks such as Amylyx Pharmaceuticals Inc, Biogen, and Vertex Pharmaceuticals. According to TipRanks, Fein has an average return of 9.4% and a 48.58% success rate on recommended stocks.
In another report released yesterday, Needham also maintained a Buy rating on the stock with a $17.00 price target.