BioCryst Shares Remain Undervalued, RBC Says

MT Newswires Live03-25

BioCryst Pharmaceuticals (BCRX) remains undervalued even with a recent price increase due to unconfirmed reports of being a takeover target, RBC Capital Markets said in a Wednesday note.

Even with the shares up 24% year-to-date, RBC's analysis of BioCryst in various takeout scenarios and as an independent company all projected share prices that are higher than what they are currently. The scenarios made various assumptions about the peak revenue for the company's hereditary angioedema treatments Orladeyo and Navenibart, as well as the potential discounted cash flow takeout value.

RBC analysts said their analysis forecast the company's share price at $18 per share in the base case, $20 per share in the bull case, and $12 per share in the bear case.

Even with the potential impact of rival Pharvaris' (PHVS) Q3 data for its competing hereditary angioedema drug, Orladeyo is still likely to have a "meaningful" role in disease treatment, while Navenibart could see a growing role among the longer-acting prophylactic injectables, the report said.

RBC kept its outperform rating with a price target of $13.

Price: 9.57, Change: -0.10, Percent Change: -0.98

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