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

Needham & Company LLC reiterated their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a report released on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $38.00 target price on the stock.

A number of other equities research analysts have also issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a research note on Thursday, October 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a research note on Monday, September 16th. B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $33.00 to $28.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Finally, Royal Bank of Canada started coverage on Bicycle Therapeutics in a research note on Friday, September 6th. They set an “outperform” rating and a $35.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.13.

Bicycle Therapeutics Price Performance

BCYC stock opened at $22.71 on Thursday. Bicycle Therapeutics has a 1 year low of $12.54 and a 1 year high of $28.67. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77. The stock’s 50 day moving average price is $24.19 and its 200 day moving average price is $23.13. The firm has a market cap of $1.08 billion, a P/E ratio of -6.90 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.04. Bicycle Therapeutics had a negative return on equity of 31.16% and a negative net margin of 450.64%. The firm had revenue of $2.68 million for the quarter, compared to analyst estimates of $6.82 million. During the same quarter in the prior year, the company earned ($1.26) EPS. Bicycle Therapeutics’s revenue was down 50.0% on a year-over-year basis. On average, sell-side analysts expect that Bicycle Therapeutics will post -3.17 earnings per share for the current fiscal year.

Insider Activity at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 3,212 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 380,864 shares in the company, valued at approximately $8,478,032.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 4,584 shares of company stock worth $102,040. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of hedge funds have recently bought and sold shares of BCYC. PNC Financial Services Group Inc. acquired a new position in Bicycle Therapeutics in the fourth quarter worth about $137,000. PDS Planning Inc acquired a new position in Bicycle Therapeutics in the first quarter worth about $210,000. Concurrent Investment Advisors LLC acquired a new position in Bicycle Therapeutics in the first quarter worth about $543,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in 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 worth $21,989,000 after purchasing an additional 100,107 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings 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 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.

About Bicycle Therapeutics

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.