10 Best Biotech Stocks To Buy Under $20

3. BioCryst Pharmaceuticals, Inc. (NASDAQ:BCRX)

Number of Hedge Fund Holders: 33

Price: $8.69

BioCryst Pharmaceuticals Inc (NASDAQ:BCRX) is a biotechnology company developing innovative small-molecule medicines for the treatment of rare diseases. One of the key advantages of BioCryst Pharmaceuticals Inc (NASDAQ:BCRX) drugs is their oral administration, making them a more convenient and patient-friendly option compared to injectable therapies.

BioCryst Pharmaceuticals Inc (NASDAQ:BCRX)’s stock may experience strong stock growth as pharmaceutical companies increasingly focus on addressing unmet needs in the rare disease space. The growing recognition of these previously underserved patient populations presents significant opportunities for companies like BioCryst Pharmaceuticals Inc (NASDAQ:BCRX).

In Q2 2024, BioCryst reported earnings per share that exceeded Wall Street expectations by 13 cents, while its revenue surpassed forecasts by an impressive $11 million.

BioCryst Pharmaceuticals Inc (NASDAQ:BCRX) generated over $108 million in global revenue, beating expectations of $97 million. Strong demand remained the primary driver behind a 34% year-over-year revenue growth. New patient prescriptions over the past three quarters have matched the high demand seen during the initial three-quarters of the product launch three years ago. Furthermore, the percentage of patients on paid therapy has increased from 71.5% at the end of 2023 to 74.4%, exceeding the company’s expectations.