BioCryst (BCRX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Tazeen Ahmad from Bank of America Securities reiterated a Buy rating on the stock and has a $11.00 price target.
Tazeen Ahmad has given his Buy rating due to a combination of factors influencing BioCryst’s financial outlook. The company has raised its FY25 guidance for Orladeyo revenues to $535-550 million, driven by early positive impacts from reduced copayments under the IRA, which have increased affordability for Medicare patients. This adjustment reflects management’s confidence in the continued momentum of Orladeyo’s launch and the potential for increased revenues.
Additionally, BioCryst is advancing its pipeline with promising developments such as the anticipated initial data for BCX17725 in Netherton syndrome and the entry of avoralstat into clinical trials for DME in 2025. These initiatives represent significant opportunities in areas with high unmet medical needs, potentially leading to meaningful upside for the company’s valuation. The current share price, coupled with a price objective of $11, suggests an attractive entry point for investors, reinforcing the Buy recommendation.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $18.00 price target.