UPDATE: JPMorgan Starts BioCryst Pharma (BCRX) at Overweight

(Updated - August 8, 2014 8:52 AM EDT)

JPMorgan initiated coverage on BioCryst Pharma (NASDAQ: BCRX) with an Overweight rating and a price target of $20.00. Analyst Cory Kasimov sees compelling opportunity in treatment of hereditary angioedema.

"We are initiating coverage of BCRX with an Overweight rating and YE15 price target of $20 based on both the near- and long-term potential of the company’s unique, orally administered drug candidates for the prophylactic treatment of hereditary angioedema (HAE), a severely debilitating and potentially lethal orphan genetic disease," said Kasimov.

"Despite the recent advancements in HAE treatment, we believe (and docs agree) that a large unmet need remains. IIndeed, we see effective oral medication as potentially game changing for the current treatment paradigm. We are further encouraged by the positive poof-of-concept efficacy data recently announced that demonstrated a statistically significant reduction in HAE attack frequency. At current levels we believe valuation is highly compelling ahead of several critical catalysts expected in 2015, most notably Phase 2b data for BCX4161 in HAE and Phase 1 data for the company’s 2nd-generation HAE compounds," he added.

For an analyst ratings summary and ratings history on BioCryst Pharma click here. For more ratings news on BioCryst Pharma click here.

Shares of BioCryst Pharma closed at $12.90 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
• Yageo Corp. (2327:TT) (YAGOY) PT Lowered to NT$656 at HSBC
• Banner Corporation (BANR) PT Lowered to $51 at Piper Sandler