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

Needham & Company LLC reiterated their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a report released on Monday, Benzinga reports. The firm currently has a $38.00 price target on the stock.

Other research analysts have also recently issued reports about the stock. HC Wainwright reaffirmed a buy rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a report on Monday. B. Riley cut shares of Bicycle Therapeutics from a buy rating to a neutral rating and dropped their target price for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Royal Bank of Canada began coverage on shares of Bicycle Therapeutics in a research note on Friday, September 6th. They set an outperform rating and a $35.00 price objective for the company. Finally, Oppenheimer reissued an outperform rating and set a $48.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $44.56.

Bicycle Therapeutics Price Performance

Shares of BCYC opened at $25.50 on Monday. Bicycle Therapeutics has a fifty-two week low of $12.54 and a fifty-two week high of $28.20. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -5.73 and a beta of 0.90. The firm has a 50-day simple moving average of $23.37 and a 200-day simple moving average of $23.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77.

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

Insider Buying and Selling

In related news, CEO Kevin Lee sold 3,194 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total value of $62,730.16. Following the sale, the chief executive officer now directly owns 384,076 shares in the company, valued at approximately $7,543,252.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 4,555 shares of company stock worth $89,460 in the last ninety days. 8.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BCYC. PNC Financial Services Group Inc. acquired a new position in shares of Bicycle Therapeutics during the 4th quarter worth $137,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Bicycle Therapeutics by 71.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock worth $171,000 after purchasing an additional 2,858 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Bicycle Therapeutics during the 2nd quarter worth $206,000. PDS Planning Inc acquired a new position in shares of Bicycle Therapeutics during the 1st quarter worth $210,000. Finally, Natixis Advisors LLC acquired a new position in Bicycle Therapeutics in the 2nd quarter valued at $261,000. Institutional investors and hedge funds own 86.15% of the company’s stock.

About Bicycle Therapeutics

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.