Bicycle Therapeutics plc (NASDAQ:BCYC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) have earned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $46.86.

A number of equities analysts have weighed in on BCYC shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, April 10th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price target on shares of Bicycle Therapeutics in a research note on Friday. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $60.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, February 21st.

Insider Buying and Selling at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,158 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total transaction of $75,191.98. Following the completion of the transaction, the chief executive officer now directly owns 387,270 shares in the company, valued at approximately $9,220,898.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 5,312 shares of company stock valued at $126,139. 10.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Braidwell LP acquired a new stake in shares of Bicycle Therapeutics during the third quarter worth about $25,914,000. Westfield Capital Management Co. LP acquired a new stake in shares of Bicycle Therapeutics in the 4th quarter valued at about $16,585,000. RA Capital Management L.P. bought a new stake in shares of Bicycle Therapeutics in the third quarter valued at about $16,072,000. Armistice Capital LLC boosted its position in shares of Bicycle Therapeutics by 53.6% during the fourth quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock worth $27,771,000 after buying an additional 536,000 shares during the period. Finally, Deerfield Management Company L.P. Series C bought a new position in shares of Bicycle Therapeutics during the third quarter worth about $9,015,000. Institutional investors and hedge funds own 86.15% of the company’s stock.

Bicycle Therapeutics Price Performance

Shares of Bicycle Therapeutics stock opened at $24.58 on Friday. Bicycle Therapeutics has a 1-year low of $12.54 and a 1-year high of $28.91. The firm’s 50-day moving average price is $24.02 and its two-hundred day moving average price is $19.47. The company has a current ratio of 8.08, a quick ratio of 8.08 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $738.46 million, a price-to-earnings ratio of -5.52 and a beta of 0.90.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its earnings results on Thursday, May 2nd. The company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($1.25) by $0.63. The company had revenue of $19.53 million for the quarter, compared to analysts’ expectations of $6.06 million. Bicycle Therapeutics had a negative return on equity of 50.10% and a negative net margin of 404.14%. The company’s revenue was up 298.9% compared to the same quarter last year. On average, equities analysts predict that Bicycle Therapeutics will post -5.2 earnings per share for the current fiscal year.

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.