Tazeen Ahmad, an analyst from Bank of America Securities, reiterated the Buy rating on BioCryst. The associated price target remains the same with $15.00.
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Tazeen Ahmad has given his Buy rating due to a combination of factors including the strong growth trends of BioCryst’s Orladeyo despite new competition. The company reported third-quarter revenues that aligned with expectations and showed a year-over-year increase in new patient prescriptions. Management expressed confidence in Orladeyo’s competitive position as the only oral prophylactic therapy for HAE, unaffected by new injectable competitors. They also raised the lower end of their FY25 revenue guidance, reflecting a positive outlook.
Furthermore, BioCryst is preparing for a pediatric HAE launch and the completion of the Astria acquisition, which is expected to enhance their long-term market position. The potential addition of 500 new pediatric patients and the strategic acquisition are seen as beneficial for the company’s growth. Additionally, upcoming data releases for Netherton syndrome and DME support the company’s pipeline value, reinforcing the Buy rating with a price objective of $15.
According to TipRanks, Ahmad is a 2-star analyst with an average return of 0.5% and a 52.56% success rate. Ahmad covers the Healthcare sector, focusing on stocks such as Ascendis Pharma, Incyte, and PTC Therapeutics.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $30.00 price target.