Rodman & Renshaw Reiterate Market Outperform and PT of $7 on BioCryst Pharmaceuticals

Rodman & Renshaw reiterates its Market Outperform rating on BioCryst Pharmaceuticals (NASDAQ: BCRX). At the same time, Rodman & Renshaw left its price target unchanged at $7.

In a research report published today, Rodman & Renshaw states, "We are reiterating our Market Outperform / Speculative Risk rating and price target of $7 for BioCryst... The absence of increased infections with BCX-4208 relative to placebo supports the view that the lymphocyte suppression seen with PNP inhibition does not appear to be clinically significant, though this hypothesis still requires additional evaluation over longer time frames, as well as by directly assessing the functioning of the immune system with the planned vaccine challenge study. In our opinion, the potential to administer a relatively low dose of BCX-4208 in synergistic combination with allopurinol creates a favorable long-term commercial opportunity for BioCryst."

At the moment, BioCryst is trading around $3.72, or 4.79% above the previous close.