Bullish Option Flow Detected In BioCryst Pharmaceuticals $BCRX Stock

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Bullish option flow occurred in BioCryst Pharmaceuticals $BCRX stock on October 21, 2022.

Bullish Option Flow

BioCryst stock option flow on October 21, 2022.

Make sure to review this lesson on option flow so that you understand the image above.

In particular, the November 18, 2022 expiration with $16 strike call option contract had volume explode higher on October 21, 2022.

BioCryst November 2022 call option with $16 strike shown in chart on October 21, 2022.

Piper says KalVista setback removes overhang for BioCryst’s Orladeyo

On October 4, 2022, after KalVista announced the termination of the Phase 2 KOMPLETE trial evaluating KVD824 for the prevention of HAE attacks based on the emergence of a liver toxicity signal, Piper Sandler analyst Christopher Raymond said the news makes him positive on $BCRX stock given that KVD824 was the key competition to BioCryst’s Orladeyo in the prophylaxis market. Raymond said that KalVista’s news removes another overhang for Orladeyo and that the drug’s runway just got cleaner. He kept his Overweight rating and $19 price target on BioCryst stock.

BioCryst Pharmaceuticals $BCRX Stock Technical Analysis

BioCryst Pharmaceuticals stock $BCRX is in a technical uptrend. Short-term technicals are strengthening, which supports a continuation of the uptrend. The stock is testing a Symmetrical Triangle breakout pattern on the chart.

BioCryst stock chart on October 22, 2022, doing Symmetrical Triangle Breakout with a positive MACD and positive money flow.
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