Why BioCryst Pharmaceuticals Stock Is Falling

BioCryst Pharmaceuticals Inc BCRX shares are trading lower Monday morning after BofA Securities downgraded the stock and Oppenheimer lowered its price target. 

BofA Securities analyst Tazeen Ahmad downgraded BioCryst from a Buy rating to a Neutral rating and announced a $14 price target.

Oppenheimer analyst Justin Kim maintained BioCryst with an Outperform rating and lowered the price target from $20 to $16.

What Happened? On Friday, the company paused enrollment in clinical trials with BCX9930 while it investigates elevated serum creatinine levels seen in some patients.

BioCryst discovers novel, oral, small-molecule medicines that treat rare diseases in which significant unmet medical needs exist and an enzyme plays a key role in the biological pathway of the disease.

The company announced Monday that it will present at the 21^st Annual Needham Virtual Healthcare Conference on April 14.

BCRX 52-Week Range: $9.23 - $19.99

The stock was down 7.37% at $10.30 at time of publication, according to data from Benzinga Pro.

Photo: fernandozhiminaicela from Pixabay.