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

Needham & Company LLC reaffirmed their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC - Free Report) in a research report released on Wednesday,Benzinga reports. Needham & Company LLC currently has a $30.00 price objective on the stock.

Other analysts have also issued research reports about the company. JMP Securities cut their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a "market outperform" rating for the company in a research note on Wednesday, December 18th. Stephens reaffirmed an "equal weight" rating and set a $15.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. HC Wainwright reissued a "buy" rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, February 26th. Finally, B. Riley cut their price target on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating for the company in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Bicycle Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $29.14.

Bicycle Therapeutics Price Performance

Shares of BCYC traded up $0.09 during trading hours on Wednesday, hitting $6.79. The company's stock had a trading volume of 74,291 shares, compared to its average volume of 394,931. The business has a 50 day simple moving average of $9.88 and a two-hundred day simple moving average of $16.02. Bicycle Therapeutics has a 52-week low of $6.10 and a 52-week high of $28.67. The company has a market cap of $469.88 million, a price-to-earnings ratio of -2.06 and a beta of 1.40.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.85) by $0.10. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The business had revenue of $3.70 million for the quarter, compared to analysts' expectations of $5.47 million. During the same quarter in the prior year, the firm posted ($1.16) EPS. The firm's quarterly revenue was down 30.2% on a year-over-year basis. Research analysts predict that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Institutional Investors Weigh In On Bicycle Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of BCYC. Baker BROS. Advisors LP raised its holdings in shares of Bicycle Therapeutics by 15.8% during the fourth quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company's stock valued at $152,395,000 after acquiring an additional 1,485,397 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Bicycle Therapeutics by 406.2% in the 4th quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company's stock worth $63,769,000 after purchasing an additional 3,655,101 shares in the last quarter. Fcpm Iii Services B.V. lifted its position in shares of Bicycle Therapeutics by 47.5% in the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company's stock worth $48,333,000 after purchasing an additional 1,112,369 shares during the period. Candriam S.C.A. boosted its stake in shares of Bicycle Therapeutics by 3.5% during the 4th quarter. Candriam S.C.A. now owns 1,087,876 shares of the company's stock valued at $15,230,000 after purchasing an additional 37,278 shares in the last quarter. Finally, Long Focus Capital Management LLC purchased a new position in shares of Bicycle Therapeutics during the fourth quarter valued at about $7,603,000. 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.