BofA analyst Tazeen Ahmad raised the firm’s price target on BioCryst (BCRX) to $15 from $13 and keeps a Buy rating on the shares after the company announced an agreement to sell the European Orladeyo business to Neopharmed Gentili for up to $264M. The firm is “encouraged” by the deal given the majority of Orladeyo revenues are realized in the U.S. and it provides clear line of sight for settling outstanding debt, the analyst tells investors.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BCRX:
- BioCryst’s Strategic Sale and Debt Retirement Strengthen Financial Position and Justify Buy Rating
- BioCryst Sells BioCryst Ireland to Neopharmed Gentili
- BioCryst price target raised to $18 from $16 at Wedbush
- BioCryst Sells European ORLADEYO Business for $264M
- BioCryst to sell its European ORLADEYO busines to Neopharmed for up to $264M