From the MotleyFool
- Analysts following BioCryst think the company's first rare disease drug has potential the stock market hasn't considered yet.
BioCryst (NASDAQ:BCRX) shares have already doubled in 2021, and the Wall Street analysts who follow the rare disease drugmaker think it can go a lot higher. The consensus price target for BioCryst at the moment represents a 44% premium.
Shares of BioCryst made a big leap after the FDA approved Orladeyo, the company's first drug, to treat a rare blood condition called hereditary angioedema (HAE) last December. The biotech stock has been holding steady for a few months as investors play wait-and-see regarding the Orladeyo launch.
Sales of Orladeyo in the second quarter came in 161% higher than the previous three-month period to reach an annualized run rate of around $114 million. That's encouraging, but still miles behind the market leader Takhzyro, an injection for HAE from Takeda (NYSE:TAK) that earned approval in 2018.
Global Takhzyro sales grew just 6% year over year to an annualized $916 million during Takeda's most recently reported quarter. Another round of quarterly reports that show Orladeyo pushing Takhzyro out of the top spot could push BioCryst stock much higher.