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

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

BCYC has been the subject of several other reports. Royal Bank of Canada initiated coverage on shares of Bicycle Therapeutics in a report on Friday, September 6th. They set an outperform rating and a $35.00 price target for the company. Oppenheimer reaffirmed an outperform rating and issued a $48.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an overweight rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. B. Riley downgraded shares of Bicycle Therapeutics from a buy rating to a neutral rating and dropped their target price for the stock from $33.00 to $28.00 in a research note on Wednesday, August 7th. Finally, HC Wainwright reaffirmed a buy rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a research note on Monday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bicycle Therapeutics presently has a consensus rating of Moderate Buy and a consensus target price of $44.56.

Bicycle Therapeutics Stock Performance

NASDAQ BCYC opened at $25.50 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.77 and a quick ratio of 14.77. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -5.73 and a beta of 0.90. The company’s fifty day moving average is $23.37 and its two-hundred day moving average is $23.02. Bicycle Therapeutics has a 52-week low of $12.54 and a 52-week high of $28.20.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.77) EPS for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.33. The company had revenue of $9.36 million during 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%. Bicycle Therapeutics’s revenue was down 17.9% compared to the same quarter last year. Equities research analysts forecast that Bicycle Therapeutics will post -3.17 EPS for the current year.

Insider Transactions at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,194 shares of Bicycle Therapeutics stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total transaction of $62,730.16. Following the completion of the sale, the chief executive officer now owns 384,076 shares in the company, valued at approximately $7,543,252.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 4,555 shares of company stock worth $89,460 in the last quarter. 8.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. acquired a new position in Bicycle Therapeutics during the fourth quarter valued at approximately $137,000. China Universal Asset Management Co. Ltd. grew its holdings in Bicycle Therapeutics by 71.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock valued at $171,000 after purchasing an additional 2,858 shares during the period. XTX Topco Ltd acquired a new position in Bicycle Therapeutics during the second quarter valued at approximately $206,000. PDS Planning Inc acquired a new position in Bicycle Therapeutics during the first quarter valued at approximately $210,000. Finally, Natixis Advisors LLC acquired a new position in Bicycle Therapeutics during the second quarter valued at approximately $261,000. 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.