Mar. 25 at 1:58 PM
RBC Capital reiterated
$BCRX Outperform;
$13, and said:::Recent unconfirmed media reports ( Betaville, 3/16 ) that BCRX could potentially be a takeout target have likely contributed to recent stock increase.
Updating our prior takeout analysis, we believe that even with shares +24% YTD, shares remain undervalued across all takeout scenarios (
$12-
$20/share) and as an independent company (PT
$13).
While we acknowledge upcoming 3Q26 data from oral HAE prophy competitor
$PHVS could have some impact on BCRX, our survey work and KOL feedback suggests that Orladeyo is likely to still have a meaningful role within the treatment paradigm even upon PHVS success, and could see a growing role for BCRX's next-gen agent navenibart as well among the longer-acting prophy injectables.
We still see some upside potential from here; increasing downside floor and upside potential scenarios (
$7/
$20).
