Biocryst Pharmaceuticals (BCRX)
NASDAQ:BCRX
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BioCryst
(NASDAQ:BCRX)
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Rating:70Outperform
Price Target:
$10.00
▲(5.26% Upside)
Action:ReiteratedDate:05/06/26
The score is driven primarily by the sharp improvement in financial results (profitability and free cash flow) and a very low P/E multiple. These positives are tempered by balance-sheet structure risk (negative equity), only neutral near-term technical momentum, and earnings-call execution risks (pediatric manufacturing delay, competition, and acquisition-related dilution/leverage).
Positive Factors
Revenue & Cash Flow Recovery
BioCryst achieved a durable operational inflection in 2025: large revenue scale and a swing to meaningful net income and free cash flow. Sustained cash conversion at scale supports reinvestment, funds pipeline milestones and reduces reliance on external financing if growth persists.
Negative Factors
Negative Shareholders' Equity
Negative equity signals accumulated losses and limits financial flexibility despite recent profitability. It can restrict strategic options, complicate covenant negotiations or M&A, and makes the company more sensitive to future write-offs or impairment charges that would further constrain capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Cash Flow Recovery
BioCryst achieved a durable operational inflection in 2025: large revenue scale and a swing to meaningful net income and free cash flow. Sustained cash conversion at scale supports reinvestment, funds pipeline milestones and reduces reliance on external financing if growth persists.
Read all positive factors
BioCryst (BCRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.34B
Dividend YieldN/A
Average Volume (3M)5.95M
Price to Earnings (P/E)1.7
Beta (1Y)0.66
Revenue Growth94.10%
EPS GrowthN/A
CountryUS
Employees580
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)1.25
Shares Outstanding254,105,900
10 Day Avg. Volume4,379,622
30 Day Avg. Volume5,951,101
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 Cap0.73
Enterprise Value/Revenue1.94
Enterprise Value/Gross Profit1.98
Enterprise Value/Ebitda4.83
Forecast
1Y Price Target
$21.83Price Target Upside129.82% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.27
Revenue Forecast (FY)$650.22M
BioCryst Business Overview & Revenue Model
Company Description
BioCryst Pharmaceuticals, Inc., a biotechnology company, discovers novel, oral, and small-molecule medicines. The company markets peramivir injection, an intravenous neuraminidase inhibitor for the treatment of acute uncomplicated influenza under ...
How the Company Makes Money
BioCryst primarily makes money from sales of ORLADEYO (berotralstat) for the prevention of hereditary angioedema (HAE) attacks. Revenue is generated through (1) direct commercial sales in markets where BioCryst sells ORLADEYO itself, and (2) sales...
BioCryst Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where BioCryst is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where BioCryst is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyBioCryst Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Positive
The call conveyed strong commercial execution and progressing late-stage and early-stage pipeline programs, with double-digit revenue and operating profit growth on a non-GAAP basis, meaningful licensing and financing activity that bolsters liquidity, and positive clinical momentum for navenibart and BCX17725. Key negatives include a manufacturing delay for the pediatric pellet fulfillment (timing uncertain), a large GAAP in-process R&D charge of $698M from the Astria acquisition, increased R&D spend and financing/dilution to fund the deal, and ongoing competitive entrants in the HAE market. Management maintained 2026 guidance and emphasized confidence in ORLADEYO demand and pipeline execution.Positive Updates
Strong ORLADEYO Quarterly Revenue
ORLADEYO net revenue of $148.3 million for Q1 2026, in line with expectations; ORLADEYO revenue increased ~21% year-over-year (ex-European divestiture impact). Monthly new patient prescriptions tracked slightly ahead of 2025 averages and prescriber additions remain consistent (~60 new prescribers/month range).
Negative Updates
Pediatric Pellet Manufacturing Delay
A manufacturing issue was discovered that will delay the first product fulfillment of ORLADEYO pediatric pellets; root cause under investigation. Management does not expect the delay to affect 2026 revenue guidance, but timing uncertainty remains and updates expected later in the quarter.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong ORLADEYO Quarterly Revenue
ORLADEYO net revenue of $148.3 million for Q1 2026, in line with expectations; ORLADEYO revenue increased ~21% year-over-year (ex-European divestiture impact). Monthly new patient prescriptions tracked slightly ahead of 2025 averages and prescriber additions remain consistent (~60 new prescribers/month range).
Read all positive updates
Company Guidance
On the call management reiterated full-year 2026 guidance for ORLADEYO net revenues of $625–$645 million and non‑GAAP operating expenses of $450–$470 million, while noting Q1 ORLADEYO net revenue of $148.3 million and Q1 non‑GAAP operating profit of $54 million (up ~25% YoY) with non‑GAAP total revenue up ~17% YoY and ORLADEYO revenue up ~21% YoY excluding the European divestiture. They said a recently discovered manufacturing issue will delay first pediatric pellet fulfillment but do not expect it to affect 2026 revenue guidance and expect more information later this quarter; new patient prescriptions and monthly prescriber additions remain in line with 2025 (roughly ~60 new prescribers/month historically) and retention remains strong (≈60% at one year). Financially they finished Q1 with ≈$261 million in cash and investments, closed a $400 million senior credit facility, recorded a $698 million in‑process R&D charge related to the Astria asset acquisition (and issued ~37 million shares to Astria shareholders), and note pro forma liquidity of $331 million following a Neopharmed Gentili deal that provides $70 million upfront, up to $275 million in milestones and tiered royalties of 18–30%. On pipeline guidance they said ALPHA‑ORBIT enrollment will complete by end of June at ~145 patients (keeping a U.S. submission on track by end of next year), ALPHA‑SOLAR showed 92% and 90% mean attack reductions in the 3‑ and 6‑month regimens, and BCX17725 Part 4 will enroll up to 12 patients with proof‑of‑concept data expected by year‑end.BioCryst Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
42
Neutral
Cash Flow
70
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 874.84M | 450.71M | 331.41M | 270.83M | 157.17M |
| Gross Profit | 855.76M | 438.23M | 326.75M | 264.23M | 149.91M |
| EBITDA | 347.65M | 12.81M | -116.33M | -143.85M | -121.74M |
| Net Income | 263.86M | -88.88M | -226.54M | -247.12M | -184.06M |
Balance Sheet | |||||
| Total Assets | 514.16M | 490.42M | 516.96M | 550.00M | 588.15M |
| Cash, Cash Equivalents and Short-Term Investments | 274.75M | 321.06M | 388.99M | 424.31M | 507.60M |
| Total Debt | 477.33M | 841.42M | 825.15M | 741.45M | 593.24M |
| Total Liabilities | 633.31M | 966.35M | 972.49M | 844.60M | 695.14M |
| Stockholders Equity | -119.15M | -475.93M | -455.53M | -294.60M | -106.99M |
Cash Flow | |||||
| Free Cash Flow | 327.41M | -53.14M | -97.31M | -163.20M | -144.54M |
| Operating Cash Flow | 329.88M | -52.02M | -95.14M | -161.85M | -142.16M |
| Investing Cash Flow | -13.69M | 52.59M | -131.50M | -128.24M | 15.80M |
| Financing Cash Flow | -332.44M | -5.76M | 32.48M | 88.03M | 359.67M |
BioCryst Technical Analysis
Positive
9.50
Price Trends
8.56
Positive
7.89
Positive
7.87
Positive
Market Momentum
0.24
Positive
55.06
Neutral
48.86
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 9.5 is below the 20-day moving average (MA) of 9.53, above the 50-day MA of 8.56, and above the 200-day MA of 7.87, indicating a neutral trend. The MACD of 0.24 indicates Positive momentum. The RSI at 55.06 is Neutral, neither overbought nor oversold. The STOCH value of 48.86 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | $2.10B | 2.54 | 70.37% | ― | 20.38% | 5205.15% | |
70 Outperform | $2.34B | 1.67 | -76.45% | ― | 94.10% | ― | |
66 Neutral | $1.86B | 19.59 | 5.17% | ― | 16.45% | 57.39% | |
58 Neutral | $2.31B | -1.99 | -57.52% | ― | 15.58% | -438.50% | |
56 Neutral | $2.57B | -5.55 | -41.68% | ― | -77.98% | -59.30% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
BCRX
BioCryst
8.83
-1.25
-12.40%
VCEL
Vericel
36.81
-3.66
-9.04%
CLDX
Celldex
34.39
15.48
81.86%
SRPT
Sarepta Therapeutics
23.03
-13.69
-37.28%
AUPH
Aurinia Pharmaceuticals
16.25
8.14
100.31%
BioCryst Corporate Events
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...
Business Operations and StrategyProduct-Related Announcements
BioCryst Licenses European Rights to HAE Drug Navenibart
Positive
May 4, 2026
On May 4, 2026, BioCryst Pharmaceuticals, Inc. announced it had signed a license agreement granting an Irish affiliate of Neopharmed Gentili S.p.A. exclusive rights to commercialize the investigational HAE drug navenibart in Europe. BioCryst will ...
Business Operations and StrategyFinancial DisclosuresM&A TransactionsProduct-Related Announcements
BioCryst Boosts HAE Franchise With Astria Acquisition, Guidance
Positive
Feb 26, 2026
BioCryst Pharmaceuticals, Inc. is a global biotechnology company focused on developing and commercializing medicines for hereditary angioedema (HAE) and other rare diseases. Its lead product ORLADEYO (berotralstat) is the first oral, once-daily pl...
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.