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

Needham & Company LLC reaffirmed their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research note issued to investors on Thursday, Benzinga reports. Needham & Company LLC currently has a $38.00 price target on the stock.

BCYC has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. HC Wainwright restated a “buy” rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a research note on Thursday, October 24th. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. JMP Securities restated a “market outperform” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Finally, Royal Bank of Canada started coverage on shares of Bicycle Therapeutics in a report on Friday, September 6th. They issued an “outperform” rating and a $35.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.56.

Bicycle Therapeutics Trading Down 3.1 %

Shares of Bicycle Therapeutics stock opened at $22.71 on Thursday. The firm’s 50 day simple moving average is $24.19 and its two-hundred day simple moving average is $23.11. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -6.90 and a beta of 0.89. Bicycle Therapeutics has a 12-month low of $12.54 and a 12-month high of $28.67. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.06. The company had revenue of $2.68 million during the quarter, compared to analyst estimates of $6.82 million. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. The firm’s quarterly revenue was down 50.0% on a year-over-year basis. During the same quarter last year, the business posted ($1.26) EPS. Analysts predict that Bicycle Therapeutics will post -3.17 EPS for the current year.

Insider Buying and Selling at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the sale, the chief executive officer now directly owns 380,864 shares in the company, valued at $8,478,032.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 4,584 shares of company stock valued at $102,040. Corporate insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BCYC. Price T Rowe Associates Inc. MD increased its holdings in Bicycle Therapeutics by 45.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 401,646 shares of the company’s stock worth $10,001,000 after acquiring an additional 124,809 shares in the last quarter. Westfield Capital Management Co. LP grew its position in shares of 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 valued at $25,869,000 after purchasing an additional 121,613 shares during the period. TD Asset Management Inc increased its stake in shares of Bicycle Therapeutics by 76.7% during the second quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock worth $1,967,000 after purchasing an additional 42,200 shares in the last quarter. Perceptive Advisors LLC acquired a new position in shares of Bicycle Therapeutics during the 2nd quarter worth about $11,577,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Bicycle Therapeutics by 275.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 97,392 shares of the company’s stock valued at $1,971,000 after buying an additional 71,434 shares in the last quarter. Hedge funds and other institutional investors own 86.15% of the company’s stock.

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.