Needham & Company LLC Reiterates Buy Rating for Bicycle Therapeutics (NASDAQ:BCYC)

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research report issued on Monday, Benzinga reports. They presently have a $38.00 target price on the stock. Needham & Company LLC’s price target points to a potential upside of 40.58% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada started coverage on Bicycle Therapeutics in a research report on Friday, September 6th. They set an “outperform” rating and a $35.00 target price for the company. B. Riley cut shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $33.00 to $28.00 in a research report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and set a $55.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and set a $48.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.56.

Bicycle Therapeutics Trading Up 2.5 %

Shares of BCYC opened at $27.03 on Monday. Bicycle Therapeutics has a twelve month low of $12.54 and a twelve month high of $27.69. The stock has a market cap of $1.28 billion, a PE ratio of -6.07 and a beta of 0.90. The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $22.48 and its 200-day moving average price is $22.96.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.33. The business had revenue of $9.36 million for the quarter, compared to analysts’ expectations of $6.13 million. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. Bicycle Therapeutics’s quarterly revenue was down 17.9% compared to the same quarter last year. On average, equities analysts forecast that Bicycle Therapeutics will post -3.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kevin Lee sold 3,194 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total transaction of $62,730.16. Following the transaction, the chief executive officer now directly owns 384,076 shares of the company’s stock, valued at $7,543,252.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 4,555 shares of company stock valued at $89,460 over the last three months. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

Institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. purchased a new position in Bicycle Therapeutics in the 4th quarter worth approximately $137,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Bicycle Therapeutics by 71.4% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock worth $171,000 after buying an additional 2,858 shares during the period. XTX Topco Ltd bought a new stake in Bicycle Therapeutics in the second quarter valued at $206,000. PDS Planning Inc bought a new stake in Bicycle Therapeutics during the 1st quarter valued at approximately $210,000. Finally, Natixis Advisors LLC purchased a new stake in Bicycle Therapeutics in the second quarter worth $261,000. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

Bicycle Therapeutics Company Profile

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics in the United States and the United Kingdom. Its product pipeline comprising BT8009, a bicycle toxin conjugate (BTC) which is in phase I/II/III clinical trial for the treatment of high nectin-4 expressing tumors; BT5528, a BTC which is in phase I/II clinical trial for the treatment of Ephrin type A receptor 2 expressing tumor; BT7480, a Bicycle TICA molecule which is in phase I/II targeting Nectin-4 and agonizing CD137; and BT7455, a Bicycle TICA molecule targeting Ephrin type A receptor 2 and CD137 and is in preclinical trial.