BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) shares rose on Monday February 13 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile U.S. stock-market indexes opened higher on Monday, setting intraday all-time highs shortly after market open. The S&P 500 SPX, +0.35% opened up 6 points, or 0.2%, at 2,322.
The Nasdaq Composite COMP, +0.44% began the session up 18 points, or 0.3% higher at 5,752. The Dow Jones Industrial Average DJIA, +0.51% added 64 points or 0.3%, to 20,340 at the open.
Piper Jaffray Companies analysts reiterated its Overweight rating on BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) in a note to investors, making it one of the more closely watched stocks on Wall Street. The company currently has a rating of Overweight on the shares. The one-year price target of $6.50 is above the opening price of $5.72, causing a number of other analysts to report on the stock in recent days. Looking back over the last year, BioCryst Pharmaceuticals, Inc. stock has a high of $7.56. Share prices sometimes get a jump to the upside when analysts reiterate coverage.
Yesterday BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) shares last traded at $5.85, which is an increase of $0.19 compared to the previous closing price. Opening at $5.72, they varied from $5.66 and $5.93 throughout the day.
BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) now has a market cap of 431.48M.
BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) Average Daily Trading Volume
83,233 shares traded hands yesterday, 85 percent below the norm, out of a total float 42,554,000. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have substantial teams of analysts that investigate thousands of stocks, so it is good confirmation to see them buying a stock you are researching.
BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
Trades for BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX) have ranged from $1.63 – 7.56, and the stock now has a 50-day MA of $6.24 and 200-day MA of $5.10. Today’s last price is 22.62%% below the 52 week high of $7.56.
Earnings growth is an important factor to consider when buying stocks and investors identify companies that have grown their earnings by at least 25% for 3 consecutive years.
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