BioCryst remains overweight at Piper Sandler who advises buying on weakness

Piper Sandler is reiterating its overweight rating for BioCryst (NASDAQ:BCRX) arguing that weakness following Friday's announcement of a trial enrollment pause for BCX9930 provides a buying opportunity.
The firm has a $24 price target (~121% upside based on Monday's close).
Analyst Christopher Raymond wrote, "we think a dearth of information has led to a number of misinterpretations...we wonder if enrollment simply gets back on track (with added precautions)."
Raymond added that he doesn't think the pause is the result of a problem with the drug itself given that BCX9930, an oral factor D inhibitor, is a complement blocking therapy that reduces hemolysis.
Seeking Alpha contributor Out of Ignorance recently called BioCryst (BCRX) a hold.