BioCryst selloff yesterday brings buying opportunity, says JPMorgan

JPMorgan sees no fundamental cause for the 10% selloff yesterday in shares of BioCryst (BCRX). The move may be “positioning-driven” and looking ahead, the company’s Q4 results and updated guidance should support strong commercial execution and underlying dynamics for Orladeyo, the analyst tells investors in a research note. As such, JPMorgan views the selloff as a buying opportunity and keeps an Overweight rating on the name. It sees BioCryst as increasingly well positioned “with the company on sustainable financial footing and the early-stage pipeline poised to start reading out de-risking later this year.”