BioCryst Pharma gains as RBC upgrades rating, lifts PT

BioCryst Pharmaceuticals

18/09/2023 17:15

** Shares of drugmaker BioCryst Pharmaceuticals  BCRX.O  up
6.93% at $7.33
    ** Brokerage RBC upgrades stock rating to "outperform" from
"sector perform"; raises PT on BCRX to $10 from $9
    ** RBC says, based on a survey it conducted, polled doctors
see near-term growth in the overall hereditary angioedema (HAE)
space, which should bode well for Orladeyo
    ** Orladeyo is BCRX's oral drug to prevent HAE, a disease
with recurrent episodes of severe swelling of the skin and
mucous membranes
    ** RBC's survey data suggests continued near-term appetite
for starting patients on Orladeyo, and improving retention rates
    ** The survey included 28 physicians with a minimum of six
HAE patients in their practices
    ** BCRX's valuation and shares having slipped to ~2 year
lows, creates an attractive buying opportunity - RBC
    ** Adds, co's current valuation already "more than
discounts" the future competitive landscape 
    ** Including session gain, stock down 36.24% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))