Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They presently have a $38.00 target price on the stock. Needham & Company LLC's target price points to a potential upside of 50.08% from the company's previous close.
A number of other research analysts have also issued reports on BCYC. Oppenheimer reaffirmed an "outperform" rating and set a $48.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. JMP Securities reiterated a "market outperform" rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a report on Monday, September 16th. Royal Bank of Canada assumed coverage on shares of Bicycle Therapeutics in a research note on Friday, September 6th. They set an "outperform" rating and a $35.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and issued a $55.00 price target on shares of Bicycle Therapeutics in a report on Thursday. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $44.56.
Check Out Our Latest Report on Bicycle Therapeutics
BCYC stock opened at $25.32 on Thursday. The firm's 50-day moving average is $23.97 and its two-hundred day moving average is $23.04. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -5.69 and a beta of 0.89. Bicycle Therapeutics has a 52 week low of $12.54 and a 52 week high of $28.67.
Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, topping analysts' consensus estimates of ($1.10) by $0.33. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The firm had revenue of $9.36 million during the quarter, compared to the consensus estimate of $6.13 million. The firm's revenue for the quarter was down 17.9% compared to the same quarter last year. On average, analysts forecast that Bicycle Therapeutics will post -3.17 earnings per share for the current fiscal year.
In other news, CEO Kevin Lee sold 3,212 shares of Bicycle Therapeutics stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the transaction, the chief executive officer now owns 380,864 shares in the company, valued at approximately $8,478,032.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 4,584 shares of company stock worth $102,040 over the last quarter. Corporate insiders own 8.50% of the company's stock.
Several institutional investors have recently made changes to their positions in the stock. Baker BROS. Advisors LP lifted its position in Bicycle Therapeutics by 176.1% in the 1st quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company's stock worth $123,076,000 after buying an additional 3,152,433 shares in the last quarter. Armistice Capital LLC increased its stake in shares of 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. First Light Asset Management LLC raised its holdings in shares of Bicycle Therapeutics by 16.1% during the second quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company's stock worth $28,028,000 after acquiring an additional 191,717 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in Bicycle Therapeutics by 13.3% during 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. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Bicycle Therapeutics by 0.6% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company's stock valued at $17,975,000 after purchasing an additional 4,976 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.
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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