Bicycle Therapeutics (NASDAQ:BCYC) Receives Buy Rating from Needham & Company LLC

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They presently have a $30.00 target price on the stock. Needham & Company LLC's price objective points to a potential upside of 206.44% from the stock's previous close.

BCYC has been the topic of a number of other reports. B. Riley reduced their target price on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, December 13th. HC Wainwright reaffirmed a "buy" rating and set a $33.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. JMP Securities lowered 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. Finally, Stephens restated an "equal weight" rating and set a $15.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $29.14.

Bicycle Therapeutics Stock Performance

Bicycle Therapeutics stock opened at $9.79 on Tuesday. The business's fifty day moving average is $12.77 and its two-hundred day moving average is $18.84. The firm has a market cap of $675.96 million, a P/E ratio of -2.98 and a beta of 1.12. Bicycle Therapeutics has a 52 week low of $9.58 and a 52 week high of $28.67.

Remove Ads

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $5.47 million. During the same period in the previous year, the business posted ($1.16) earnings per share. The firm's revenue for the quarter was down 30.2% compared to the same quarter last year. On average, equities research analysts predict that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Insider Transactions at Bicycle Therapeutics

In other news, Director Bros. Advisors Lp Baker purchased 500,000 shares of Bicycle Therapeutics stock in a transaction dated Monday, December 16th. The shares were bought at an average cost of $15.34 per share, with a total value of $7,670,000.00. Following the completion of the transaction, the director now directly owns 9,995,274 shares in the company, valued at $153,327,503.16. This trade represents a 5.27 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Alistair Milnes sold 4,578 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total transaction of $64,504.02. Following the completion of the sale, the chief operating officer now owns 100,724 shares of the company's stock, valued at approximately $1,419,201.16. This represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,677 shares of company stock worth $392,413. 8.50% of the stock is currently owned by company insiders.

Institutional Trading of Bicycle Therapeutics

A number of institutional investors have recently modified their holdings of the company. Baker BROS. Advisors LP grew 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 worth $152,395,000 after buying an additional 1,485,397 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Bicycle Therapeutics by 406.2% during the 4th quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company's stock worth $63,769,000 after acquiring an additional 3,655,101 shares in the last quarter. Fcpm Iii Services B.V. grew its stake in shares of Bicycle Therapeutics by 47.5% during the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company's stock worth $48,333,000 after acquiring an additional 1,112,369 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Bicycle Therapeutics by 21.5% in the third quarter. Westfield Capital Management Co. LP now owns 1,850,945 shares of the company's stock valued at $41,887,000 after purchasing an additional 327,089 shares during the last quarter. Finally, Candriam S.C.A. lifted its position in shares of Bicycle Therapeutics by 3.5% in the fourth quarter. Candriam S.C.A. now owns 1,087,876 shares of the company's stock worth $15,230,000 after purchasing an additional 37,278 shares in the last quarter. 86.15% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.