BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) is headed up in the premarket hours after announcing that it plans on hosting a virtual R&D day a week from today. Here’s what’s happening:
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- BioCryst Pharmaceuticals Announces R&D Day
- What Is BCRX?
- What Analysts Think About BCRX Stock
- Final Thoughts
BioCryst Pharmaceuticals Announces R&D Day
In a press release issued early Monday morning, BioCryst Pharmaceuticals said it will host a virtual R&D day on Monday, March, 22, 2021. The event will be held from 9:00 am to 11:00 am eastern time.
In the release, BCRX said that it will discuss its unique, proven, and prolific approach to developing oral medications designed for the treatment of rare conditions. In particular, the company plans on discussing BCX9930, an oral Factor D inhibitor that’s under development as a potential monotherapy for the treatment of complement-mediated diseases.
The company went on to explain that during the event, it will present new data from a dose-ranging clinical trial of BCX9930 that enrolled 16 paroxysmal nocturnal hemoglobinuria (PNH) patients, 10 of which had no prior treatment with C5 inhibitors and six of whom had an inadequate response to C5 inhibitors.
BCRX went on to say that during the event, its management team will offer presentations and a panel of key opinion leaders and a PNH patient will discuss the potential treatment.
If you would like to join the event, click here.
What Is BCRX?
BioCryst is a biotechnology company with several assets under development, many of which are in late stages. The company’s core focus is the development of orally available drugs for the treatment of ailments with few effective options.
In 2014, the company gained its first FDA approval, when an antiviral drug known as RAPIVAB was approved by the regulatory agency.
What Analysts Think About BCRX Stock
Analysts seem to love what they see when they look at BioCryst stock. In fact, according to TipRanks, there are currently 10 analysts covering the ticker, eight of whom rate the stock a Buy and two of whom rate it a Hold.
Price targets on the stock range from $9 to $16 per share, with a median price target of $13.33. However, it’s important to keep in mind that the vast majority of analyst opinions here are outdated and don’t take recent news into account. As a result, upon review, I’m expecting that we’ll see price target increases, further outlining the opportunity that BCRX stock represents.
All told, BioCryst Pharmaceuticals is an exciting play at the moment. The company has multiple late-stage assets in its pipeline, which means that there are plenty of catalysts on the horizon here. Moreover, with the coming presentation, investor excitement is likely to tick up, leading to further growth in the value of the stock. All in all, BCRX stock is one to pay close attention to.