Bicycle Therapeutics plc (NASDAQ:BCYC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Bicycle Therapeutics plc (NASDAQ:BCYC) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $44.56.

Several analysts have recently weighed in on the stock. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price target on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Royal Bank of Canada assumed coverage on shares of Bicycle Therapeutics in a research report on Friday, September 6th. They set an “outperform” rating and a $35.00 price objective on the stock. B. Riley downgraded Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced their target price for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th.

Bicycle Therapeutics Stock Performance

Shares of BCYC opened at $22.71 on Wednesday. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01. The firm’s fifty day simple moving average is $23.47 and its two-hundred day simple moving average is $22.95. Bicycle Therapeutics has a 12 month low of $12.54 and a 12 month high of $28.20. The stock has a market capitalization of $971.51 million, a P/E ratio of -5.10 and a beta of 0.90.

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

Institutional Investors Weigh In On Bicycle Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its holdings in Bicycle Therapeutics by 45.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 401,646 shares of the company’s stock worth $10,001,000 after purchasing an additional 124,809 shares in the last quarter. Parkman Healthcare Partners LLC grew its holdings in Bicycle Therapeutics by 155.0% during the fourth quarter. Parkman Healthcare Partners LLC now owns 312,889 shares of the company’s stock worth $5,657,000 after buying an additional 190,168 shares in the last quarter. Westfield Capital Management Co. LP raised its position in Bicycle Therapeutics by 13.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock valued at $25,869,000 after buying an additional 121,613 shares during the last quarter. TD Asset Management Inc lifted its stake in Bicycle Therapeutics by 76.7% during the 2nd quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock valued at $1,967,000 after acquiring an additional 42,200 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Bicycle Therapeutics by 97.2% during the 2nd quarter. Renaissance Technologies LLC now owns 326,800 shares of the company’s stock worth $6,614,000 after acquiring an additional 161,100 shares during the last quarter. Institutional investors and hedge funds 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.