Bicycle Therapeutics (NASDAQ:BCYC) Earns “Buy” Rating from Needham & Company LLC

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They currently have a $30.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 359.42% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $33.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. JMP Securities reduced their price objective on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research report on Wednesday, December 18th. Stephens restated an “equal weight” rating and issued a $15.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. Finally, B. Riley lowered their price objective on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $29.14.

Bicycle Therapeutics Trading Down 5.1 %

BCYC stock opened at $6.53 on Wednesday. The company’s 50 day moving average is $10.01 and its 200 day moving average is $16.18. The stock has a market cap of $451.89 million, a price-to-earnings ratio of -1.98 and a beta of 1.40. Bicycle Therapeutics has a 1-year low of $6.10 and a 1-year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10. The firm had revenue of $3.70 million for the quarter, compared to analyst estimates of $5.47 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The business’s revenue for the quarter was down 30.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.16) EPS. As a group, sell-side analysts forecast that Bicycle Therapeutics will post -3.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BCYC. JPMorgan Chase & Co. grew its stake in shares of Bicycle Therapeutics by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after purchasing an additional 1,782 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Bicycle Therapeutics by 30.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company’s stock worth $131,000 after buying an additional 2,191 shares during the period. Barclays PLC grew its position in shares of Bicycle Therapeutics by 878.3% in the 4th quarter. Barclays PLC now owns 2,612 shares of the company’s stock worth $37,000 after buying an additional 2,345 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Bicycle Therapeutics by 18.9% during the fourth quarter. Jane Street Group LLC now owns 23,991 shares of the company’s stock valued at $336,000 after buying an additional 3,811 shares during the period. Finally, Avior Wealth Management LLC bought a new position in shares of Bicycle Therapeutics during the fourth quarter valued at approximately $57,000. 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.