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 note released on Monday, Benzinga reports. The brokerage currently has a $38.00 target price on the stock.

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

Bicycle Therapeutics Trading Down 0.2 %

NASDAQ:BCYC opened at $24.36 on Monday. The business’s 50-day moving average is $23.31 and its two-hundred day moving average is $23.00. The firm has a market capitalization of $1.04 billion, a PE ratio of -5.47 and a beta of 0.90. Bicycle Therapeutics has a 12 month low of $12.54 and a 12 month high of $28.20. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.77 and a quick ratio of 14.77.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share (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%. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. Research analysts predict that Bicycle Therapeutics will post -3.17 earnings per share for the current fiscal year.

Insider Transactions at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 3,194 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total value of $62,730.16. Following the completion of the sale, the chief executive officer now directly owns 384,076 shares of the company’s stock, valued at $7,543,252.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 4,555 shares of company stock valued at $89,460. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Perceptive Advisors LLC acquired a new stake in shares of Bicycle Therapeutics during the second quarter worth $11,577,000. The Manufacturers Life Insurance Company raised its stake in Bicycle Therapeutics by 275.2% during the second quarter. The Manufacturers Life Insurance Company now owns 97,392 shares of the company’s stock worth $1,971,000 after acquiring an additional 71,434 shares during the period. Armistice Capital LLC lifted its holdings in Bicycle Therapeutics by 17.9% in the second quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock worth $39,913,000 after acquiring an additional 300,000 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Bicycle Therapeutics by 923.5% in the second quarter. Cubist Systematic Strategies LLC now owns 96,409 shares of the company’s stock worth $1,951,000 after acquiring an additional 86,989 shares during the last quarter. Finally, First Light Asset Management LLC boosted its stake in Bicycle Therapeutics by 16.1% in the second quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock valued at $28,028,000 after acquiring an additional 191,717 shares during the period. 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.