Bicycle Therapeutics (NASDAQ:BCYC) Earns Buy Rating from Needham & Company LLC

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research note issued on Thursday, Benzinga reports. They presently have a $38.00 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 62.12% from the company’s current price.

Several other analysts also recently commented on BCYC. JMP Securities reissued a “market outperform” rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Royal Bank of Canada initiated coverage on shares of Bicycle Therapeutics in a research report on Friday, September 6th. They set an “outperform” rating and a $35.00 target price on the stock. B. Riley cut Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $33.00 to $28.00 in a research report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and issued a $48.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.56.

Bicycle Therapeutics Price Performance

Shares of BCYC stock traded down $0.59 during mid-day trading on Thursday, hitting $23.44. 495,072 shares of the stock traded hands, compared to its average volume of 352,768. Bicycle Therapeutics has a twelve month low of $12.54 and a twelve month high of $28.67. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77. The company’s 50-day simple moving average is $24.16 and its 200-day simple moving average is $23.10. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -5.27 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.33. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The company 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% compared to the same quarter last year. As a group, equities research analysts expect that Bicycle Therapeutics will post -3.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 4,584 shares of company stock worth $102,040 over the last quarter. Company insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCYC. Price T Rowe Associates Inc. MD lifted its position in Bicycle Therapeutics by 45.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 401,646 shares of the company’s stock valued at $10,001,000 after acquiring an additional 124,809 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of Bicycle Therapeutics by 13.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock worth $25,869,000 after acquiring an additional 121,613 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Bicycle Therapeutics by 76.7% in the second quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock worth $1,967,000 after purchasing an additional 42,200 shares in the last quarter. Perceptive Advisors LLC bought a new position in Bicycle Therapeutics in the second quarter valued at $11,577,000. Finally, The Manufacturers Life Insurance Company increased its stake in Bicycle Therapeutics by 275.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 97,392 shares of the company’s stock valued at $1,971,000 after buying an additional 71,434 shares during the last quarter. 86.15% of the stock is owned by institutional investors.

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.