Brokerages Set Bicycle Therapeutics plc (NASDAQ:BCYC) Target Price at $44.56

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) have received a consensus rating of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $44.56.

BCYC has been the topic of several research analyst reports. Oppenheimer reissued an “outperform” rating and issued a $48.00 price objective 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 set an “outperform” rating and a $35.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a report on Monday. B. Riley downgraded shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $33.00 to $28.00 in a report on Wednesday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th.

Insiders Place Their Bets

In other news, CEO Kevin Lee sold 3,194 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total value of $62,730.16. Following the completion of the sale, the chief executive officer now directly owns 384,076 shares in the company, valued at $7,543,252.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 4,555 shares of company stock valued at $89,460 in the last 90 days. 8.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in Bicycle Therapeutics by 45.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 401,646 shares of the company’s stock valued at $10,001,000 after purchasing an additional 124,809 shares during the period. Trexquant Investment LP lifted its position in shares of Bicycle Therapeutics by 177.6% during the fourth quarter. Trexquant Investment LP now owns 196,323 shares of the company’s stock worth $3,550,000 after purchasing an additional 125,604 shares in the last quarter. Parkman Healthcare Partners LLC grew its holdings in shares of Bicycle Therapeutics by 155.0% in the fourth quarter. Parkman Healthcare Partners LLC now owns 312,889 shares of the company’s stock valued at $5,657,000 after purchasing an additional 190,168 shares in the last quarter. Westfield Capital Management Co. LP lifted its holdings in 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 buying an additional 121,613 shares in the last quarter. Finally, Jump Financial LLC increased its position in shares of Bicycle Therapeutics by 108.6% during the fourth quarter. Jump Financial LLC now owns 77,332 shares of the company’s stock worth $1,398,000 after acquiring an additional 40,265 shares during the period. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Bicycle Therapeutics Price Performance

Shares of BCYC opened at $26.96 on Friday. The company has a 50 day moving average of $22.63 and a two-hundred day moving average of $22.97. 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 twelve month low of $12.54 and a twelve month high of $27.82. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -6.06 and a beta of 0.90.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.33. The company had revenue of $9.36 million for the quarter, compared to the consensus estimate of $6.13 million. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The company’s quarterly revenue was down 17.9% on a year-over-year basis. As a group, analysts predict that Bicycle Therapeutics will post -3.17 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.