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 $13.00 price target.
Tazeen Ahmad has given his Buy rating due to a combination of factors including the strong performance of Orladeyo, which has exceeded revenue expectations and prompted an increase in future revenue guidance. The management’s ability to improve the paid drug rate, particularly through Medicare copay affordability, has also contributed positively to the company’s financial outlook. Furthermore, the company’s strategic expansion into pediatric hereditary angioedema (HAE) with a new granule formulation of Orladeyo could potentially open up a new market segment, offering additional growth opportunities.
In addition to the current product success, BioCryst’s pipeline is advancing with promising developments in Netherton syndrome and diabetic macular edema. The regulatory authorization for phase 1 studies in these areas indicates potential future revenue streams, with initial readouts expected by the end of the year. These factors, combined with a revised price objective of $13, support the Buy rating as they suggest a robust long-term growth trajectory for BioCryst.
Ahmad covers the Healthcare sector, focusing on stocks such as Alnylam Pharma, Incyte, and Sarepta Therapeutics. According to TipRanks, Ahmad has an average return of -2.7% and a 47.53% success rate on recommended stocks.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $20.00 price target.