Abstract

Biocryst Pharmaceuticals will release its latest quarterly results on February 26, 2026 Pre-Market, and this preview consolidates recent financial data and forecasts to outline expectations for revenue, margin profile, GAAP profitability, and adjusted EPS, alongside the prevailing institutional stance.

Market Forecast

Consensus projections compiled from the latest finance dataset indicate Biocryst Pharmaceuticals’ current quarter revenue estimate of $151.33 million, implying year-over-year growth of 16.27%. The forecast embeds an EBIT estimate of $21.84 million with a year-over-year growth of 141.86%, and an EPS estimate of $0.05 with a year-over-year growth of 184.88%. While a formal gross profit margin forecast was not published in the dataset, the last reported quarter’s gross margin stood at 70.65%. The company’s last quarter net profit margin was 8.09%, and the EPS baseline for the new quarter is guided higher versus the prior actual. The main business is expected to be led by product sales, with ongoing momentum in the company’s flagship therapies; collaborations and other revenues remain modest. The segment with the strongest potential remains product sales, where last quarter revenue was $157.74 million and continued year-over-year gains underpin the forward profile.

Last Quarter Review

Biocryst Pharmaceuticals’ previous quarter delivered revenue of $159.40 million, a gross profit margin of 70.65%, GAAP net profit attributable to the parent company of $12.90 million, and a net profit margin of 8.09%. Adjusted EPS registered at $0.06, marking year-over-year growth of 185.71%. A notable operational highlight was the EBIT result of $29.59 million, essentially in line with the quarter’s estimates and representing 284.70% year-over-year growth, supported by disciplined operating expense control and favorable product mix. Main business momentum was concentrated in product sales at $157.74 million, which dominated total revenue, while collaborations and other contributed $1.66 million; year-over-year revenue growth for the quarter was 36.14%.

Current Quarter Outlook (with major analytical insights)

Main Business: Product Sales Trajectory and Margin Durability

Product sales remain the centerpiece of Biocryst Pharmaceuticals’ operating model and the driver of near-term earnings quality. The last reported quarter’s gross margin of 70.65% outlines a healthy manufacturing and pricing dynamic; sustaining a similar margin profile will depend on mix, commercialization efficiency, and inventory management through the current quarter. Revenue is forecast at $151.33 million, with the growth rate of 16.27% year over year, which suggests demand normalization after the prior quarter’s surge, yet still points to continued adoption across core indications. Operating leverage is evidenced by the EBIT forecast of $21.84 million, which implies meaningful year-over-year scaling; the durability of this leverage will be guided by sales force productivity, payer coverage trends, and any incremental lifecycle-management steps around the lead assets.

Most Promising Business: Flagship Therapies Within Product Sales

Within product sales, the flagship therapies remain the most promising vector for incremental growth, supported by robust commercial execution and an expanding prescriber base. The previous quarter’s product revenue of $157.74 million and the quarter’s overall year-over-year growth of 36.14% set a high bar, yet the present forecast still indicates double-digit expansion. A core sensitivity is the pace of patient starts relative to discontinuations, a factor which influences net revenue growth and sample-to-paid conversion curves. Another decisive factor is reimbursement stability: sustained access across major payers supports the consistency of quarterly revenue recognition and mitigates volatility. In addition, geographic expansion and label breadth can reinforce unit economics, while any supply chain constraints or pricing elasticity could nudge the mix and margin trajectory.

Stock Price Drivers This Quarter: EPS Quality, Margin Mix, and Guidance

Near-term equity performance will revolve around whether the company can deliver the forecasted EPS of $0.05 with clean quality—limited reliance on one-time items—and maintain net profitability comparable with last quarter’s 8.09% margin framework. Investors will closely parse gross margin continuity versus the 70.65% baseline, as a stable or improving mix would underscore operating discipline and pricing control. Guidance will matter: if management’s revenue outlook aligns with the $151.33 million estimate and provides clarity on full-year growth vectors, the market may discount transitory quarterly fluctuations and focus on the runway for earnings compounding. Conversely, any signs of decelerating demand, unusual inventory dynamics, or payer disruptions could pressure sentiment and widen the range of outcomes for the current quarter’s valuation multiple.

Analyst Opinions

Across recently surveyed institutional commentary, the balance of opinions skews bullish, with a majority of analysts expecting Biocryst Pharmaceuticals to deliver above-consensus qualitative performance anchored by consistent product demand and resilient margin structure. One widely followed sell-side team highlights the favorable year-over-year setup for EBIT—forecast to rise 141.86%—as a signal that operating leverage is tracking ahead of earlier plans, while noting that last quarter’s adjusted EPS of $0.06 and EBIT of $29.59 million illustrate a disciplined cost base. Another research outlet emphasizes double-digit revenue growth continuity, arguing that $151.33 million in forecast revenue represents a sustainable pace given the maturity of flagship therapies and ongoing access initiatives. The bullish view rests on three pillars: margin preservation around the 70% level, EPS quality free of non-recurring tailwinds, and guidance that confirms a stable growth cadence through the next few quarters.

Supportive analysts also assess risk management factors, pointing to payer coverage updates and channel inventory checks that suggest a balanced supply-demand environment. They see limited evidence of pricing pressure in the core indications, which could help preserve gross margin and maintain net income trajectory following last quarter’s 8.09% net profit margin. A minority of cautious voices point to sequential revenue moderation relative to the prior quarter’s $159.40 million and highlight the importance of conversion rates from new patient starts; however, the prevailing view is that the year-over-year growth embedded in forecasts remains attainable, and that EBIT expansion provides a buffer against moderate top-line variability.

In synthesis, the majority stance anticipates Biocryst Pharmaceuticals to post a quarter broadly consistent with forecasts: revenue near $151.33 million, adjusted EPS around $0.05, and clear evidence of operating leverage in the EBIT line. If management delivers a clean print alongside steady margin commentary and pragmatic guidance, the bullish case projects continued confidence in earnings repeatability and a supportive setup for the subsequent quarter’s trajectory.