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

Needham & Company LLC restated their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research report report published on Thursday, Benzinga reports. The brokerage currently has a $38.00 price objective on the stock.

Other equities analysts have also recently issued reports about the company. B. Riley cut Bicycle Therapeutics from a “buy” rating to a “neutral” rating and cut their target price for the stock from $33.00 to $28.00 in a report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a report on Thursday. Oppenheimer restated an “outperform” rating and issued a $48.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Finally, JMP Securities reissued a “market outperform” rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.56.

Bicycle Therapeutics Trading Down 2.2 %

BCYC opened at $24.77 on Thursday. The company has a fifty day moving average price of $24.02 and a two-hundred day moving average price of $23.05. Bicycle Therapeutics has a 1-year low of $12.54 and a 1-year high of $28.67. The company has a market cap of $1.06 billion, a P/E ratio of -5.57 and a beta of 0.89. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01.

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

Insider Transactions at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,212 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at $8,478,032.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 4,584 shares of company stock worth $102,040 in the last 90 days. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. purchased a new stake in Bicycle Therapeutics during the fourth quarter worth about $137,000. PDS Planning Inc purchased a new stake in shares of Bicycle Therapeutics during the 1st quarter worth approximately $210,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Bicycle Therapeutics during the 1st quarter worth approximately $543,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Bicycle Therapeutics by 12.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 883,105 shares of the company’s stock worth $21,989,000 after purchasing an additional 100,107 shares during the period. Finally, Westfield Capital Management Co. LP lifted its stake in Bicycle Therapeutics by 13.3% in the first quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock valued at $25,869,000 after purchasing an additional 121,613 shares during the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

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.