B. Riley Predicts Weaker Earnings for Bicycle Therapeutics

Bicycle Therapeutics plc (NASDAQ:BCYC) – Analysts at B. Riley decreased their FY2024 earnings estimates for Bicycle Therapeutics in a research note issued on Monday, November 18th. B. Riley analyst K. Patel now anticipates that the company will post earnings per share of ($2.83) for the year, down from their prior forecast of ($2.33). B. Riley has a “Neutral” rating and a $28.00 price objective on the stock. The consensus estimate for Bicycle Therapeutics’ current full-year earnings is ($3.07) per share. B. Riley also issued estimates for Bicycle Therapeutics’ Q4 2024 earnings at ($0.80) EPS, FY2025 earnings at ($3.70) EPS, FY2026 earnings at ($4.26) EPS, FY2027 earnings at ($4.26) EPS and FY2028 earnings at ($3.68) EPS.

Several other equities research analysts also recently issued reports on BCYC. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Stephens started coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They set an “equal weight” rating and a $25.00 target price for the company. Oppenheimer reissued an “outperform” rating and issued a $48.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, October 31st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.13.

Bicycle Therapeutics Stock Down 0.1 %

BCYC opened at $20.35 on Wednesday. Bicycle Therapeutics has a 12-month low of $13.31 and a 12-month high of $28.67. The business has a 50 day moving average of $24.23 and a 200-day moving average of $23.08. The stock has a market cap of $967.40 million, a price-to-earnings ratio of -6.11 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.04. The business had revenue of $2.68 million during the quarter, compared to the consensus estimate of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. Bicycle Therapeutics’s revenue was down 50.0% on a year-over-year basis. During the same period last year, the business posted ($1.26) EPS.

Hedge Funds Weigh In On Bicycle Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Assetmark Inc. bought a new stake in shares of Bicycle Therapeutics during the 3rd quarter worth $34,000. GAMMA Investing LLC lifted its holdings 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 worth $46,000 after acquiring an additional 1,038 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings 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 worth $162,000 after acquiring an additional 2,918 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Bicycle Therapeutics in the 2nd quarter valued at approximately $206,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Bicycle Therapeutics during the 3rd quarter valued at approximately $257,000. Institutional investors own 86.15% of the company’s stock.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total value of $71,499.12. Following the transaction, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at $8,478,032.64. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Travis Alvin Thompson sold 6,256 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $25.11, for a total transaction of $157,088.16. Following the completion of the transaction, the chief accounting officer now owns 19,241 shares of the company’s stock, valued at $483,141.51. The trade was a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,840 shares of company stock worth $259,128 in the last 90 days. Company insiders own 8.50% 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.