Bicycle Therapeutics’ (BCYC) Buy Rating Reaffirmed at Needham & Company LLC

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports. They currently have a $38.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 67.33% from the company’s previous close.

A number of other analysts also recently commented on BCYC. JMP Securities restated a “market outperform” rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a research note on Monday, September 16th. B. Riley downgraded Bicycle Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $33.00 to $28.00 in a research note on Wednesday, August 7th. Royal Bank of Canada assumed coverage on Bicycle Therapeutics in a research note on Friday, September 6th. They issued an “outperform” rating and a $35.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Finally, HC Wainwright restated a “buy” rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Bicycle Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.56.

Bicycle Therapeutics Stock Down 3.1 %

Shares of BCYC stock opened at $22.71 on Thursday. The stock’s 50-day simple moving average is $24.18 and its 200-day simple moving average is $23.11. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77. The firm has a market capitalization of $1.08 billion, a PE ratio of -6.90 and a beta of 0.89. Bicycle Therapeutics has a fifty-two week low of $12.54 and a fifty-two week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.06. The business had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The company’s revenue was down 50.0% on a year-over-year basis. During the same period in the prior year, the company earned ($1.26) earnings per share. Equities analysts expect that Bicycle Therapeutics will post -3.17 earnings per share for the current year.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of the 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 transaction, the chief executive officer now owns 380,864 shares in the company, valued at approximately $8,478,032.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 4,584 shares of company stock worth $102,040. 8.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Assetmark Inc. purchased a new position in shares of Bicycle Therapeutics in the third quarter valued at approximately $34,000. GAMMA Investing LLC lifted its position in shares of Bicycle Therapeutics by 105.1% in the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after acquiring an additional 1,038 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Bicycle Therapeutics by 69.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after acquiring an additional 2,918 shares in the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of Bicycle Therapeutics in the fourth quarter valued at approximately $137,000. Finally, PDS Planning Inc purchased a new position in shares of Bicycle Therapeutics in the first 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.