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

Needham & Company LLC reaffirmed their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a report published on Monday, Benzinga reports. They currently have a $38.00 price target on the stock.

Other research analysts have also issued research reports about the company. Royal Bank of Canada started coverage on Bicycle Therapeutics in a report on Friday, September 6th. They issued an outperform rating and a $35.00 target price on the stock. Cantor Fitzgerald reissued an overweight rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. B. Riley lowered Bicycle Therapeutics from a buy rating to a neutral rating and dropped their target price for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. Oppenheimer reissued an outperform rating and issued a $48.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Finally, HC Wainwright restated a buy rating and issued a $55.00 price target on shares of Bicycle Therapeutics in a research note on Monday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $44.56.

Bicycle Therapeutics Trading Down 7.6 %

BCYC opened at $24.97 on Monday. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -5.61 and a beta of 0.90. Bicycle Therapeutics has a 52 week low of $12.54 and a 52 week high of $28.20. The business’s 50 day moving average is $23.16 and its two-hundred day moving average is $23.00. The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.33. The business had revenue of $9.36 million for the quarter, compared to analyst estimates of $6.13 million. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The business’s revenue was down 17.9% on a year-over-year basis. On average, research analysts predict that Bicycle Therapeutics will post -3.17 EPS for the current year.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total transaction of $62,730.16. Following the sale, the chief executive officer now directly owns 384,076 shares in the company, valued at $7,543,252.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 4,555 shares of company stock worth $89,460. 8.50% of the stock is owned by corporate insiders.

Institutional Trading of Bicycle Therapeutics

A number of institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its position in Bicycle Therapeutics by 71.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock worth $171,000 after purchasing an additional 2,858 shares in the last quarter. Woodstock Corp boosted its position in Bicycle Therapeutics by 16.3% during the first quarter. Woodstock Corp now owns 24,981 shares of the company’s stock worth $622,000 after purchasing an additional 3,502 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Bicycle Therapeutics by 0.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock worth $17,975,000 after purchasing an additional 4,976 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in Bicycle Therapeutics during the fourth quarter worth $137,000. Finally, L & S Advisors Inc lifted its position in shares of Bicycle Therapeutics by 16.1% in the second quarter. L & S Advisors Inc now owns 58,335 shares of the company’s stock valued at $1,181,000 after acquiring an additional 8,075 shares in the last quarter. 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.