FY2024 Earnings Forecast for BCYC Issued By Leerink Partnrs

Bicycle Therapeutics plc (NASDAQ:BCYC) – Stock analysts at Leerink Partnrs increased their FY2024 earnings estimates for Bicycle Therapeutics in a research note issued to investors on Monday, January 13th. Leerink Partnrs analyst J. Chang now anticipates that the company will post earnings of ($3.01) per share for the year, up from their prior estimate of ($3.03). The consensus estimate for Bicycle Therapeutics’ current full-year earnings is ($3.05) per share. Leerink Partnrs also issued estimates for Bicycle Therapeutics’ Q4 2024 earnings at ($0.83) EPS, Q1 2025 earnings at ($0.84) EPS, Q2 2025 earnings at ($0.86) EPS, Q3 2025 earnings at ($0.86) EPS, Q4 2025 earnings at ($0.87) EPS and FY2025 earnings at ($3.43) EPS.

Other research analysts also recently issued research reports about the stock. B. Riley cut their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. HC Wainwright restated a “buy” rating and set a $33.00 target price on shares of Bicycle Therapeutics in a research report on Monday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and set a $32.00 price target on shares of Bicycle Therapeutics in a research note on Monday, January 13th. Finally, Stephens initiated coverage on Bicycle Therapeutics in a research report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

Bicycle Therapeutics Stock Performance

BCYC stock opened at $13.34 on Thursday. The firm has a market cap of $921.13 million, a P/E ratio of -4.05 and a beta of 0.92. Bicycle Therapeutics has a 1 year low of $12.17 and a 1 year high of $28.67. The stock’s 50 day moving average price is $17.54 and its 200 day moving average price is $21.46.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.04. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The business had revenue of $2.68 million during the quarter, compared to the consensus estimate of $6.82 million. During the same quarter in the previous year, the company posted ($1.26) EPS. The business’s revenue was down 50.0% on a year-over-year basis.

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics news, CAO Travis Alvin Thompson sold 6,256 shares of Bicycle Therapeutics stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $25.11, for a total transaction of $157,088.16. Following the transaction, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at $483,141.51. The trade was a 24.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Santiago Arroyo sold 4,943 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $69,646.87. Following the sale, the insider now owns 69,057 shares of the company’s stock, valued at approximately $973,013.13. This represents a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,933 shares of company stock valued at $549,501. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BCYC. Renaissance Technologies LLC boosted its position in shares of Bicycle Therapeutics by 97.2% in the second quarter. Renaissance Technologies LLC now owns 326,800 shares of the company’s stock worth $6,614,000 after buying an additional 161,100 shares during the period. L & S Advisors Inc lifted its position in Bicycle Therapeutics by 16.1% during the 2nd quarter. L & S Advisors Inc now owns 58,335 shares of the company’s stock worth $1,181,000 after acquiring an additional 8,075 shares in the last quarter. XTX Topco Ltd acquired a new position in Bicycle Therapeutics during the 2nd quarter worth approximately $206,000. Avoro Capital Advisors LLC purchased a new position in Bicycle Therapeutics in the 2nd quarter worth approximately $14,168,000. Finally, Marshall Wace LLP acquired a new stake in Bicycle Therapeutics in the second quarter valued at approximately $1,801,000. 86.15% of the stock is owned by hedge funds and other institutional investors.

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.