Bicycle Therapeutics (NASDAQ:BCYC) Given Buy Rating at Needham & Company LLC

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research note issued on Thursday, Benzinga reports. They currently have a $38.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 53.66% from the stock’s current price.

A number of other equities analysts have also recently weighed in on 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 price target for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. JMP Securities restated a “market outperform” rating and set a $32.00 price target on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Finally, HC Wainwright restated a “buy” rating and set a $55.00 price target on shares of Bicycle Therapeutics in a research report on Thursday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.56.

Bicycle Therapeutics Trading Down 0.2 %

Shares of NASDAQ BCYC opened at $24.73 on Thursday. The firm has a market cap of $1.06 billion, a PE ratio of -5.56 and a beta of 0.89. 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 has a twelve month low of $12.54 and a twelve month high of $28.67. The business has a fifty day simple moving average of $24.06 and a two-hundred day simple moving average of $23.07.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.33. The firm had revenue of $9.36 million for the quarter, compared to the consensus estimate of $6.13 million. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. Analysts expect that Bicycle Therapeutics will post -3.17 earnings per share for the current fiscal year.

Insider Transactions at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the sale, the chief executive officer now owns 380,864 shares of the company’s stock, valued at $8,478,032.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 4,584 shares of company stock valued at $102,040 in the last quarter. 8.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of BCYC. GAMMA Investing LLC lifted its stake in Bicycle Therapeutics by 105.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after buying an additional 1,038 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in Bicycle Therapeutics in the 4th quarter valued at approximately $137,000. China Universal Asset Management Co. Ltd. lifted its stake in Bicycle Therapeutics by 69.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after buying an additional 2,918 shares in the last quarter. XTX Topco Ltd purchased a new stake in Bicycle Therapeutics in the 2nd quarter valued at approximately $206,000. Finally, PDS Planning Inc purchased a new stake in Bicycle Therapeutics in the 1st quarter valued at approximately $210,000. Hedge funds and other institutional investors own 86.15% of the company’s stock.

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.