BioCryst… Active Trading, Yet Directionless (BCRX)

Posted in General 
September 21st, 2009

BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX) is trying to find a trading direction.  Shares were initially down on word that it was awarded an additional $77.2 million by the U.S. Department of Health & Human Services to develop Peramivir for influenza… This is a great headline, but ran a headline saying that this was also under expectations.  BioCryst had only $56.5 million in 2008 revenues, down from $71 million in 2007.  Shares were down over 1%, then up 2%, and now at 9:43 AM EST we have share back to flat.  Go figure.  We have also just hit the 2.4 million share volume in under 15 minutes, which means that BioCryst’s average daily volume has already been hit.  At $9.98, its market cap is $383 million and its 52-week trading range is $0.85 to $13.47. -JON OGG

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