On Friday, Evercore ISI analyst Liisa Bayko increased the price target for BioCryst Pharmaceuticals (NASDAQ:BCRX) to $12.00, up from the previous $10.00, while reiterating an Outperform rating on the stock. According to InvestingPro data, analysts maintain a bullish consensus on BCRX with price targets ranging from $8 to $30. Bayko highlighted the company's strong performance, noting that BioCryst had preannounced its 2024 Orladeyo revenue at $437 million, which is $2 million above the upper range of their projections and $4 million higher than the market consensus.
Bayko's analysis pointed out that BioCryst is on a path to achieve cash flow positivity by the end of this year, which aligns with the company's financial trajectory. InvestingPro analysis shows the company has maintained strong liquidity with a current ratio of 2.78, while achieving impressive revenue growth of nearly 30% over the last twelve months. The analyst expressed confidence in the firm's future, suggesting that the 2025 revenue guidance for Orladeyo, which is set between $515 million and $535 million, might be understated. The guidance takes into account a 5% price increase for the drug and the availability of funds to cover Medicare copays within this year.
The Evercore ISI analyst anticipates that the actual revenue could reach $549 million, a figure that Bayko believes may still be on the conservative side. This expectation is based on the current and projected performance of Orladeyo, a treatment developed by BioCryst for hereditary angioedema, which has been a key growth driver for the company.
BioCryst's financial health appears to be strengthening, as evidenced by the preannouncement of its revenue figures and the company's progress towards becoming cash flow positive. The raised price target from Evercore ISI reflects a positive outlook on the stock, buoyed by the company's solid quarterly performance and promising revenue guidance for the upcoming years. InvestingPro rates BioCryst's overall financial health as "GREAT" with particularly strong momentum scores. Subscribers can access 6 additional ProTips and a comprehensive Pro Research Report covering BioCryst's growth trajectory and market position.
In other recent news, BioCryst Pharmaceuticals has projected ORLADEYO sales to range between $515 million and $535 million for 2025. The company also anticipates total revenue, including RAPIVAB, to range from $540 million to $560 million for the same year. BioCryst's operating expenses for 2025 are projected to be between $485 million and $495 million. The company's pipeline is advancing, with patient studies for Netherton syndrome and diabetic macular edema planned for 2025.
Additionally, BioCryst Pharmaceuticals has reported a significant 36% year-over-year increase in its third-quarter revenue, primarily driven by its ORLADEYO product. The company has also revised its 2024 revenue guidance to between $430 and $435 million and forecasts reaching $1 billion in annual revenue by 2029.
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