Bicycle Therapeutics (NASDAQ:BCYC) Given Buy Rating at HC Wainwright

by · The Cerbat Gem

HC Wainwright reissued their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC – Free Report) in a report issued on Friday, Benzinga reports. They currently have a $55.00 price objective on the stock.

Several other research firms have also weighed in on BCYC. Oppenheimer restated an “outperform” rating and issued a $48.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. Royal Bank of Canada assumed coverage on Bicycle Therapeutics in a research report on Friday, September 6th. They issued an “outperform” rating and a $35.00 price target on the stock. B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the company from $33.00 to $28.00 in a report on Wednesday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a report on Thursday. Finally, JMP Securities restated a “market outperform” rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.56.

Check Out Our Latest Analysis on BCYC

Bicycle Therapeutics Stock Down 3.1 %

Shares of BCYC traded down $0.73 during midday trading on Friday, reaching $22.71. 665,690 shares of the stock were exchanged, compared to its average volume of 354,259. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -6.90 and a beta of 0.89. The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01. Bicycle Therapeutics has a 12-month low of $12.54 and a 12-month high of $28.67. The firm has a 50 day simple moving average of $24.19 and a 200-day simple moving average of $23.11.

Bicycle Therapeutics (NASDAQ:BCYC – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.06. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The firm had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. During the same quarter last year, the firm earned ($1.26) earnings per share. The company’s revenue for the quarter was down 50.0% on a year-over-year basis. Research analysts forecast that Bicycle Therapeutics will post -3.17 EPS for the current year.

Insider Activity

In related news, CEO Kevin Lee sold 3,212 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the sale, the chief executive officer now owns 380,864 shares in the company, valued at approximately $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 accessible through this hyperlink. Insiders sold 4,584 shares of company stock worth $102,040 in the last quarter. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new position in shares of Bicycle Therapeutics in the 4th quarter valued at about $137,000. PDS Planning Inc acquired a new position in Bicycle Therapeutics during the first quarter worth approximately $210,000. Concurrent Investment Advisors LLC bought a new stake in Bicycle Therapeutics in the first quarter valued at approximately $543,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Bicycle Therapeutics by 12.8% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 883,105 shares of the company’s stock valued at $21,989,000 after buying an additional 100,107 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings 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 during the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Bicycle Therapeutics Company Profile

(Get Free Report)

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.

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