BioCryst Pharmaceuticals

BCRX · NASDAQ

$7.94−$0.13 (−1.61%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $8.07

BCRX analyst rating

BuyConsensus of 8 analysts over the last 12 months. 63% rate it a buy.

Strong buy0
Buy5
Hold3
Underperform0
Sell0

12-month price target · 13 analysts

Average $21.93 (+176.2% upside)

Low: $11.11
Now: $7.94
High: $33.60

Upgrades and downgrades

The latest rating actions, newest first

BCRX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Sep 30, 2026	Maintains	Neutral	$12.00 → $13.00	57%
RBC Capital	Sep 10, 2026	Downgrade	Outperform → Sector Perform	$13.00 → $11.00	44%
Needham	Sep 8, 2026	Maintains	Buy	$16.00	53%
RBC Capital	Aug 6, 2026	Maintains	Outperform	$14.00 → $13.00	44%
Wedbush	Aug 6, 2026	Maintains	Outperform	$21.00 → $20.00	40%
JP Morgan	Jul 13, 2026	Initiates	Neutral	$12.00	57%
RBC Capital	Jul 7, 2026	Maintains	Outperform	$13.00 → $14.00	44%
HC Wainwright & Co.	Jun 30, 2026	Maintains	Buy	$32.00	54%
Cantor Fitzgerald	Jun 30, 2026	Maintains	Overweight	$27.00 → $29.00	50%
Citizens	May 7, 2026	Maintains	Market Outperform	$25.00 → $28.00	47%

The case for and against

Updated Oct 21, 2026

Bull case

BioCryst Pharma is supported by a resilient HAE franchise, with Orladeyo generating $158M in 2Q26 revenue, up 10% y/y, and management reiterating FY26 guidance of $625M-$645M while lifting total revenue guidance to $690M-$715M. The company also delivered $218M in 2Q26 total revenue and $113M in non-GAAP operating profit, both well above consensus, while ending the period with $354M in cash/equivalents, underscoring improving financial strength. Its outlook is reinforced by a deep pipeline, including navenibart’s potential Q3M/Q6M dosing advantage, ALPHA-ORBIT data expected in 3Q27, and BCX17725 Netherton data by YE26, which together broaden long-term upside beyond the core asset.

Bear case

BioCryst Pharma is viewed negatively because its key HAE franchise faces a looming competitive threat from deucrictibant, which may not reach the market until 1H28 but could still pressure Orladeyo’s near 2yr runway as the sole oral HAE prophylaxis. The investment case also looks fragile given regulatory uncertainty, with possible requirements for additional or longer studies, unclear commercial traction if labels are limited, and meaningful safety questions around deucrictibant despite strong efficacy signals and a 32.2 pt AE-QoL improvement at wk-24. Financially, management’s 2026 non-GAAP operating expense guide was cut to ~$420-440M from $450-470M, yet the need for external funding and uncertainty around >$1B peak sales or profitability suggest limited margin for error.

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