Bicycle Therapeutics’ (BCYC) “Buy” Rating Reiterated at Needham & Company LLC

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They currently have a $30.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 370.22% from the stock’s current price.

BCYC has been the topic of a number of other reports. JMP Securities lowered their price target on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a report on Wednesday, December 18th. B. Riley lowered their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and set a $33.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. Finally, Stephens reiterated an “equal weight” rating and issued a $15.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bicycle Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $29.14.

Bicycle Therapeutics Price Performance

Shares of NASDAQ BCYC opened at $6.38 on Wednesday. The stock has a market cap of $441.51 million, a PE ratio of -1.94 and a beta of 1.40. Bicycle Therapeutics has a 1 year low of $6.27 and a 1 year high of $28.67. The firm has a fifty day moving average price of $10.38 and a 200-day moving average price of $16.49.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The business had revenue of $3.70 million during the quarter, compared to analyst estimates of $5.47 million. During the same quarter in the prior year, the business posted ($1.16) EPS. Bicycle Therapeutics’s revenue for the quarter was down 30.2% compared to the same quarter last year. On average, research analysts expect that Bicycle Therapeutics will post -3.06 EPS for the current year.

Hedge Funds Weigh In On Bicycle Therapeutics

Several institutional investors have recently bought and sold shares of BCYC. GAMMA Investing LLC raised its position in shares of Bicycle Therapeutics by 879.5% during the 1st quarter. GAMMA Investing LLC now owns 8,982 shares of the company’s stock valued at $76,000 after buying an additional 8,065 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Bicycle Therapeutics by 406.2% during the fourth quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock worth $63,769,000 after acquiring an additional 3,655,101 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Bicycle Therapeutics by 43.3% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,236 shares of the company’s stock worth $1,123,000 after acquiring an additional 24,260 shares during the last quarter. Millennium Management LLC purchased a new stake in Bicycle Therapeutics during the fourth quarter valued at approximately $2,475,000. Finally, Fcpm Iii Services B.V. lifted its stake in shares of Bicycle Therapeutics by 47.5% in the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock valued at $48,333,000 after purchasing an additional 1,112,369 shares during the last quarter. 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.