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.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
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