Jefferies analyst Maury Raycroft maintained a Buy rating on BioCryst (BCRX – Research Report) yesterday and set a price target of $12.00.
Maury Raycroft has given his Buy rating due to a combination of factors that highlight BioCryst’s promising outlook. The company has raised its sales guidance for Orladeyo, driven by stronger-than-expected demand and favorable Medicare conditions under the IRA, which suggests robust revenue growth potential. Despite a recent dip in stock price, attributed to higher-than-expected operational expenses, Raycroft views this as a buying opportunity, anticipating stronger financial performance in the coming years.
BioCryst is also on track with its strategic initiatives, including the planned filing for pediatric use of Orladeyo and upcoming pipeline data updates. The company expects continued growth in both U.S. and international markets, with a clear path to profitability. Additionally, the development of new treatments and anticipated milestones in their pipeline further support the positive outlook, reinforcing the Buy recommendation.
According to TipRanks, Raycroft is a 4-star analyst with an average return of 5.2% and a 37.50% success rate. Raycroft covers the Healthcare sector, focusing on stocks such as BioCryst, Sangamo Biosciences, and Celcuity.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $18.00 price target.