Jefferies analyst Maury Raycroft maintained a Buy rating on BioCryst today and set a price target of $15.00.
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Maury Raycroft has given his Buy rating due to a combination of factors related to BioCryst’s strategic acquisition of ATXS. The acquisition is set to enhance BioCryst’s portfolio with the addition of navenibart, a long-acting drug for hereditary angioedema (HAE), which is expected to complement their existing product, Orladeyo. This strategic move is anticipated to drive significant growth, with BioCryst projecting a compound annual growth rate of over 15% in sales over the next decade, aiming for $1.8 billion by 2033.
Raycroft also notes that the acquisition is being financed through a combination of cash and a new credit facility, which positions BioCryst to remain profitable and cash flow positive post-transaction. Furthermore, the company’s confidence in regulatory approval, based on historical precedents in the HAE market, adds to the positive outlook. The expected launch of navenibart in 2028, with patent exclusivity extending through 2042-2044, further solidifies BioCryst’s long-term growth prospects, supporting the Buy rating.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BCRX in relation to earlier this year.