What is B. Riley's Forecast for BCYC FY2024 Earnings?

Bicycle Therapeutics plc (NASDAQ:BCYC - Free Report) - Equities research analysts at B. Riley lowered their FY2024 EPS estimates for shares of Bicycle Therapeutics in a report released on Monday, November 18th. B. Riley analyst K. Patel now expects that the company will post earnings per share of ($2.83) for the year, down from their prior forecast of ($2.33). B. Riley currently has a "Neutral" rating and a $28.00 price target on the stock. The consensus estimate for Bicycle Therapeutics' current full-year earnings is ($3.01) per share. B. Riley also issued estimates for Bicycle Therapeutics' Q4 2024 earnings at ($0.80) EPS, FY2025 earnings at ($3.70) EPS, FY2026 earnings at ($4.26) EPS, FY2027 earnings at ($4.26) EPS and FY2028 earnings at ($3.68) EPS.

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

Several other brokerages have also recently weighed in on BCYC. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. JMP Securities reissued a "market outperform" rating and set a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. Needham & Company LLC reiterated a "buy" rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. HC Wainwright restated a "buy" rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $35.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $40.13.

Bicycle Therapeutics Price Performance

Shares of Bicycle Therapeutics stock traded up $0.16 during midday trading on Wednesday, reaching $20.64. The company had a trading volume of 157,298 shares, compared to its average volume of 358,152. The firm has a market cap of $981.43 million, a PE ratio of -6.22 and a beta of 0.89. The stock has a fifty day moving average price of $24.37 and a 200 day moving average price of $23.10. Bicycle Therapeutics has a fifty-two week low of $13.07 and a fifty-two week high of $28.67.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Baker BROS. Advisors LP lifted its position in Bicycle Therapeutics by 176.1% during the first quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company's stock valued at $123,076,000 after acquiring an additional 3,152,433 shares during the last quarter. Armistice Capital LLC increased its holdings in shares of Bicycle Therapeutics by 17.9% during the second quarter. Armistice Capital LLC now owns 1,972,000 shares of the company's stock valued at $39,913,000 after acquiring an additional 300,000 shares in the last quarter. Westfield Capital Management Co. LP grew its position in Bicycle Therapeutics by 21.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company's stock worth $41,887,000 after purchasing an additional 327,089 shares during the last quarter. First Light Asset Management LLC raised its holdings in shares of Bicycle Therapeutics by 16.1% in the second quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company's stock worth $28,028,000 after buying an additional 191,717 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Bicycle Therapeutics by 1,438.1% in the third quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company's stock worth $20,362,000 after buying an additional 841,299 shares during the last quarter. 86.15% of the stock is owned by institutional investors.

Insider Activity at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,212 shares of the business's stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total transaction of $71,499.12. Following the transaction, the chief executive officer now owns 380,864 shares of the company's stock, valued at approximately $8,478,032.64. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Travis Alvin Thompson sold 6,256 shares of the company's stock in a transaction dated 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 owns 19,241 shares in the company, valued at $483,141.51. The trade was a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,840 shares of company stock worth $259,128. Corporate insiders own 8.50% 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.