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BioCryst
(NASDAQ:BCRX)
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Rating:57Neutral
Price Target:
$9.50
▲(1.71% Upside)
Action:Reiterated
Date:08/06/26
The score is anchored by a mixed financial profile: strong revenue scaling and very strong recent operating/free cash flow are offset by volatile profitability and a weak capital structure (negative equity with meaningful debt). The latest earnings call was constructive (raised revenue guidance, tightened cost guidance, solid non-GAAP profitability and liquidity), but technical indicators point to weak near-term momentum, and valuation is difficult to support on earnings due to a negative P/E and no dividend yield data.
Positive Factors
Cash generation
BioCryst’s recent operating and free cash flow turned strongly positive (2025 and TTM), producing hundreds of millions in cash. Durable cash generation underpins funding for commercialization, potential debt reduction, and milestone investments without constant equity dilution, improving long-term financial optionality.
Negative Factors
Weak capital structure
Persistently negative equity and substantial reported debt limit financial flexibility and increase refinancing and covenant risk over time. A strained capital structure reduces capacity for inorganic growth or sustained R&D spend and makes the company more sensitive to operational setbacks or adverse reimbursement shifts.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
BioCryst’s recent operating and free cash flow turned strongly positive (2025 and TTM), producing hundreds of millions in cash. Durable cash generation underpins funding for commercialization, potential debt reduction, and milestone investments without constant equity dilution, improving long-term financial optionality.
Read all positive factors
BioCryst Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across regions (e.g., U.S., Europe, Rest of World) to show where BioCryst earns most of its sales and where growth is coming from. Concentration in a single geography can mean higher exposure to local payer decisions or regulatory shifts, while expanding international sales or licensing deals can signal new growth opportunities and diversification of risk.
Breaks down revenue across regions (e.g., U.S., Europe, Rest of World) to show where BioCryst earns most of its sales and where growth is coming from. Concentration in a single geography can mean higher exposure to local payer decisions or regulatory shifts, while expanding international sales or licensing deals can signal new growth opportunities and diversification of risk.
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The Fly
The FlyBioCryst (BCRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.28B
Dividend YieldN/A
Average Volume (3M)5.32M
Price to Earnings (P/E)―
Beta (1Y)0.56
Revenue Growth75.92%
EPS Growth-569.22%
CountryUS
Employees435
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.44
Shares Outstanding254,162,660
10 Day Avg. Volume3,147,373
30 Day Avg. Volume5,315,058
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)-13.74
Price to Sales (P/S)1.87
P/FCF Ratio5.00
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$20.88Price Target Upside123.50% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)-2.53
Revenue Forecast (FY)$669.39M
BioCryst Business Overview & Revenue Model
Company Description
BioCryst Pharmaceuticals, Inc. is a biotechnology company focused on discovering and developing novel, orally administered, small-molecule therapeutics. The company currently markets two key products: Peramivir injection: An intravenous neuraminid...
How the Company Makes Money
BioCryst makes money primarily through product revenue from sales of ORLADEYO (berotralstat) for the prevention of hereditary angioedema (HAE) attacks. Revenue is generated by selling the drug to customers in markets where it is approved, typicall...
BioCryst Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call conveyed a predominantly positive operational and financial picture: strong comparable revenue growth (+45% total; ORLADEYO +10% YoY), solid cash balance (~$350M+) and non-GAAP profitability ($113.2M), successful enrollment milestones (navenibart pivotal study completed ahead of schedule), and an initiated pediatric launch with encouraging early demand (47 prescriptions). Management also reinforced financial discipline, tightened operating cost guidance, and secured a €55.7M upfront license payment. Offsetting items include a prior manufacturing delay for pediatric pellets (now shipping), a strategic wind-down of internal discovery and Birmingham facility closure that reduces in-house R&D capacity, continued competition from new injectables, and timing uncertainty for several material clinical data readouts (navenibart top line in Q3 2027; BCX17725 POC by end-2026). On balance, the positive financial and commercial momentum and clear cost discipline outweigh the challenges and transition risks.Positive Updates
Strong Revenue Growth
Total revenue for Q2 2026 increased 45% year-over-year on a comparable basis (excluding the European divestiture).
Negative Updates
Manufacturing Delay for Pediatric Pellets
There was a manufacturing delay for the pediatric ORLADEYO pellets launch (shipment has now started), creating initial operational friction and uncertainty about near-term prescription and paid-rate trends in pediatrics.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Growth
Total revenue for Q2 2026 increased 45% year-over-year on a comparable basis (excluding the European divestiture).
Read all positive updates
Company Guidance
BioCryst raised full‑year total revenue guidance to $690–$715 million (boosted in part by a $55.7M upfront navenibart EU license payment) while maintaining ORLADEYO 2026 revenue guidance of $625–$645 million despite the pediatric manufacturing delay, and held non‑GAAP operating costs at $420–$440 million (narrowed from a prior $450–$470M range). In Q2 the company reported total revenue up 45% YoY on a comparable basis, ORLADEYO revenue of $158.2M (up 10% YoY), non‑GAAP operating profit of $113.2M, just over $350M in cash/cash equivalents and investments, and positive cash flow even excluding the license proceeds. Additional metrics called out include an 84% paid rate (vs. 83% a year ago), ~1,600 patients currently on therapy (≈3,500 have tried ORLADEYO since launch), 47 pediatric pellet prescriptions through July 31, and Q2 ORLADEYO growth split roughly half volume / half price‑reimbursement (after a 9% list price increase that nets ~4.5%); management also reiterated expected cost savings from ending internal discovery and noted upcoming catalysts (navenibart top‑line in 3Q‑2027 and BCX17725 Part 4 patient data by year‑end).BioCryst Financial Statement Overview
Summary
Income Statement
48
Neutral
Balance Sheet
27
Negative
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 940.61M | 874.84M | 450.71M | 331.41M | 270.83M | 157.17M |
| Gross Profit | 221.20M | 855.76M | 438.23M | 326.75M | 264.23M | 149.91M |
| EBITDA | -300.46M | 347.65M | 12.81M | -116.33M | -143.85M | -121.74M |
| Net Income | -384.67M | 263.86M | -88.88M | -226.54M | -247.12M | -184.06M |
Balance Sheet | ||||||
| Total Assets | 557.85M | 514.16M | 490.42M | 516.96M | 550.00M | 588.15M |
| Cash, Cash Equivalents and Short-Term Investments | 352.57M | 274.75M | 321.06M | 388.99M | 424.31M | 507.60M |
| Total Debt | 409.86M | 438.87M | 841.42M | 825.15M | 741.45M | 593.24M |
| Total Liabilities | 1.01B | 633.31M | 966.35M | 972.49M | 844.60M | 695.14M |
| Stockholders Equity | -454.29M | -119.15M | -475.93M | -455.53M | -294.60M | -106.99M |
Cash Flow | ||||||
| Free Cash Flow | 358.06M | 327.41M | -53.14M | -97.31M | -163.20M | -144.54M |
| Operating Cash Flow | 360.21M | 329.88M | -52.02M | -95.14M | -161.85M | -142.16M |
| Investing Cash Flow | -448.71M | -13.69M | 52.59M | -131.50M | -128.24M | 15.80M |
| Financing Cash Flow | 140.55M | -332.44M | -5.76M | 32.48M | 88.03M | 359.67M |
BioCryst Technical Analysis
Positive
9.34
Price Trends
9.31
Negative
9.25
Positive
8.28
Positive
Market Momentum
-0.12
Positive
48.61
Neutral
32.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BCRX, the sentiment is Positive. The current price of 9.34 is below the 20-day moving average (MA) of 9.40, above the 50-day MA of 9.31, and above the 200-day MA of 8.28, indicating a neutral trend. The MACD of -0.12 indicates Positive momentum. The RSI at 48.61 is Neutral, neither overbought nor oversold. The STOCH value of 32.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BCRX.
BioCryst Risk Analysis
BioCryst disclosed 61 risk factors in its most recent earnings report. BioCryst reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
BioCryst Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $2.35B | 95.75 | 6.91% | ― | 22.95% | 228.76% | |
73 Outperform | $1.91B | 6.64 | 64.48% | ― | 20.62% | 696.05% | |
57 Neutral | $2.28B | -5.19 | 101.55% | ― | 75.92% | -569.22% | |
56 Neutral | $2.99B | -8.91 | -50.72% | ― | -88.54% | -58.13% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $1.57B | 23.97 | -9.96% | ― | -2.20% | 77.51% |
* Healthcare Sector Average
BCRX
BioCryst
9.30
0.95
11.38%
VCEL
Vericel
44.75
8.60
23.79%
CLDX
Celldex
41.56
20.35
95.95%
SRPT
Sarepta Therapeutics
16.78
-1.18
-6.57%
AUPH
Aurinia Pharmaceuticals
16.13
4.70
41.12%
BioCryst Corporate Events
Business Operations and StrategyFinancial Disclosures
BioCryst Reports Strong Q2 Results, Raises 2026 Guidance
Positive
Aug 5, 2026
BioCryst reported strong second quarter 2026 results, with total net revenue rising to $218.3 million and ORLADEYO revenue reaching $158.2 million, supported by positive operating profit and free cash flow. The company maintained full-year ORLADEY...
Business Operations and StrategyFinancial Disclosures
BioCryst Advances Rare Disease Pipeline Amid Cost Controls
Positive
Jun 29, 2026
On June 25, 2026, BioCryst’s board approved a plan to discontinue internal discovery programs and shut its Discovery Center of Excellence in Birmingham, Alabama by the end of 2026, refocusing the business on external innovation to expand its...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
BioCryst Shareholders Approve Expanded Equity Incentive Plan
Positive
Jun 12, 2026
At its annual meeting on June 11, 2026, BioCryst Pharmaceuticals’ stockholders approved an amended and restated stock incentive plan, adding 7,000,000 shares to the pool available for equity-based compensation, a move that could enhance the ...
Business Operations and StrategyExecutive/Board ChangesFinancial DisclosuresM&A Transactions
BioCryst Posts Q1 2026 Results, Maintains Growth Outlook
Positive
May 6, 2026
BioCryst Pharmaceuticals reported first-quarter 2026 results on May 6, 2026, highlighted by ORLADEYO net revenue of $148.3 million, up 11% year-on-year, or 21% on a comparable basis excluding European revenue, as strong new patient prescriptions u...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.