Royal Bank Of Canada Has Lowered Expectations for Bicycle Therapeutics (NASDAQ:BCYC) Stock Price

Bicycle Therapeutics (NASDAQ:BCYC) had its target price decreased by equities research analysts at Royal Bank Of Canada from $32.00 to $25.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 192.06% from the stock’s previous close.

BCYC has been the topic of several other reports. B. Riley decreased their target price on shares of Bicycle Therapeutics from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Morgan Stanley set a $17.00 price target on shares of Bicycle Therapeutics and gave the stock an “equal weight” rating in a research note on Monday, May 5th. JMP Securities dropped their price target on shares of Bicycle Therapeutics from $26.00 to $22.00 and set a “market outperform” rating for the company in a research note on Friday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 target price on shares of Bicycle Therapeutics in a research note on Friday, May 2nd. Finally, Barclays lowered their price objective on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.22.

Bicycle Therapeutics Price Performance

Shares of BCYC opened at $8.56 on Thursday. The company’s fifty day moving average price is $7.96 and its 200 day moving average price is $9.65. Bicycle Therapeutics has a one year low of $6.10 and a one year high of $28.67. The company has a market capitalization of $592.78 million, a PE ratio of -2.73 and a beta of 1.41.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.02). Bicycle Therapeutics had a negative return on equity of 25.54% and a negative net margin of 790.07%. The company had revenue of $9.98 million for the quarter, compared to the consensus estimate of $8.67 million. Analysts anticipate that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Institutional Trading of Bicycle Therapeutics

A number of large investors have recently added to or reduced their stakes in BCYC. Barclays PLC raised its position in shares of Bicycle Therapeutics by 878.3% in the fourth quarter. Barclays PLC now owns 2,612 shares of the company’s stock valued at $37,000 after purchasing an additional 2,345 shares during the period. GAMMA Investing LLC raised its stake in Bicycle Therapeutics by 879.5% in the 1st quarter. GAMMA Investing LLC now owns 8,982 shares of the company’s stock worth $76,000 after purchasing an additional 8,065 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in Bicycle Therapeutics by 90.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company’s stock worth $108,000 after purchasing an additional 6,057 shares in the last quarter. Cerity Partners LLC acquired a new stake in Bicycle Therapeutics in the 1st quarter worth about $113,000. Finally, Portland Investment Counsel Inc. acquired a new stake in Bicycle Therapeutics in the 1st quarter worth about $127,000. Institutional investors and hedge funds own 86.15% of the company’s stock.

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.