BioCryst price target raised to $18 from $16 at Wedbush

Wedbush raised the firm’s price target on BioCryst (BCRX) to $18 from $16 and keeps an Outperform rating on the shares as it sees the sale of the European Orladeyo business as a positive move for the company. The sale allows BioCryst to pay down existing debt in a non-dilutive manner. Additionally, lowering expenses also puts BioCryst in a better position to prioritize internal candidate advancement and/or business development opportunities, Wedbush adds. Overall, the firm sees BioCryst in a stronger position following completion of the deal.