BioCryst price target raised to $26 from $24 at Cantor Fitzgerald

Cantor Fitzgerald analyst Steve Seedhouse raised the firm’s price target on BioCryst (BCRX) to $26 from $24 and keeps an Overweight rating on the shares. BioCryst is buying top pick Astria Therapeutics (ATXS) for $700M in enterprise value, and the deal is a “terrific” value for BioCryst, even before accounting for essentially total SG&A synergy, and it allows BioCryst to protect and extend its core HAE commercial leadership position through navenibart’s loss of exclusivity in 2042, the analyst tells investors in a research note.