Needham & Company LLC Reaffirms Buy Rating for Bicycle Therapeutics (NASDAQ:BCYC)

Needham & Company LLC reissued their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC - Free Report) in a research report report published on Thursday morning, Benzinga reports. Needham & Company LLC currently has a $38.00 price target on the stock.

BCYC has been the subject of a number of other reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. HC Wainwright reaffirmed a "buy" rating and set a $55.00 target price on shares of Bicycle Therapeutics in a report on Thursday. Royal Bank of Canada began coverage on Bicycle Therapeutics in a report on Friday, September 6th. They issued an "outperform" rating and a $35.00 price target for the company. Oppenheimer restated an "outperform" rating and set a $48.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Finally, B. Riley lowered shares of Bicycle Therapeutics from a "buy" rating to a "neutral" rating and lowered their target price for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $44.56.

Bicycle Therapeutics Stock Down 2.2 %

BCYC stock traded down $0.55 during midday trading on Thursday, hitting $24.77. 146,106 shares of the company's stock were exchanged, compared to its average volume of 352,040. The firm has a 50 day moving average price of $23.97 and a 200-day moving average price of $23.04. Bicycle Therapeutics has a 12-month low of $12.54 and a 12-month high of $28.67. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -5.69 and a beta of 0.89. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.10) by $0.33. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The business had revenue of $9.36 million during the quarter, compared to analyst estimates of $6.13 million. The company's revenue for the quarter was down 17.9% on a year-over-year basis. On average, analysts anticipate that Bicycle Therapeutics will post -3.17 EPS for the current year.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 380,864 shares of the company's stock, valued at approximately $8,478,032.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 4,584 shares of company stock worth $102,040 over the last quarter. 8.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of institutional investors have recently modified their holdings of BCYC. GAMMA Investing LLC raised its stake in Bicycle Therapeutics by 105.1% during the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company's stock valued at $46,000 after purchasing an additional 1,038 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in Bicycle Therapeutics during the fourth quarter worth about $137,000. PDS Planning Inc acquired a new position in Bicycle Therapeutics in the 1st quarter valued at approximately $210,000. XTX Topco Ltd bought a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth approximately $206,000. Finally, Natixis Advisors LLC bought a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth approximately $261,000. 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.