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BioCryst Pharmaceuticals (BCRX, $8.49, down $0.26)
Shares have been in an eight-session trading range following better-than-expected earnings. Closes above resistance at $8.75-$9 should get double-digits in play. Support is at $8.25-$8 and the 50-day moving average.
These calls expire on June 18th, 2026 (98 days). An analyst upgrade this week was the result of the “unusual options activity” that we saw in some of BCRX strike prices. The Price Target was raised from $21 to $22 but it was premature, in our option, as last year’s June 4th and current 52-week peak is at $11.34.
We have been following this company for years and we remain bullish. We think another run to double-digits is coming again this May or June (maybe sooner) and why we went further out with the call options.
If shares make a run to fresh 52-week highs by mid-June, these call options will double from current levels.
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