Bicycle Therapeutics plc (NASDAQ:BCYC) Receives $40.13 Consensus Price Target from Brokerages

Bicycle Therapeutics plc (NASDAQ:BCYC) has been given an average rating of “Moderate Buy” by the nine research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $40.13.

Several brokerages recently commented on BCYC. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. B. Riley downgraded shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their target price for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. Needham & Company LLC reissued a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price target on shares of Bicycle Therapeutics in a research report on Friday, November 1st.

Bicycle Therapeutics Price Performance

Shares of NASDAQ:BCYC opened at $19.95 on Thursday. The firm has a fifty day moving average price of $23.97 and a 200 day moving average price of $23.03. Bicycle Therapeutics has a 1-year low of $13.31 and a 1-year high of $28.67. The stock has a market cap of $948.62 million, a P/E ratio of -6.35 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data 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 company had revenue of $2.68 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.26) EPS. Sell-side analysts expect that Bicycle Therapeutics will post -3.07 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Bicycle Therapeutics

A number of large investors have recently bought and sold shares of BCYC. Assetmark Inc. acquired a new position in Bicycle Therapeutics during the 3rd quarter valued at about $34,000. GAMMA Investing LLC raised its holdings in Bicycle Therapeutics by 105.1% during the third quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock worth $46,000 after purchasing an additional 1,038 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of 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 worth $162,000 after buying an additional 2,918 shares in the last quarter. XTX Topco Ltd bought a new stake in Bicycle Therapeutics in the second quarter worth about $206,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Bicycle Therapeutics in the 3rd quarter worth approximately $257,000. 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.