Brokerages Set Bicycle Therapeutics plc (NASDAQ:BCYC) PT at $44.56

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $45.13.

Several equities analysts recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. Oppenheimer reissued an “outperform” rating and issued a $48.00 price target 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. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Bicycle Therapeutics in a research note on Friday. Finally, Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a report on Thursday.

Bicycle Therapeutics Trading Down 3.1 %

Shares of BCYC opened at $22.71 on Friday. The stock’s fifty day simple moving average is $24.19 and its 200-day simple moving average is $23.11. The firm has a market capitalization of $1.08 billion, a PE ratio of -6.90 and a beta of 0.89. Bicycle Therapeutics has a 12-month low of $12.54 and a 12-month high of $28.67. The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.06. The company had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The company’s revenue was down 50.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.26) EPS. As a group, research analysts predict that Bicycle Therapeutics will post -3.17 earnings per share for the current year.

Insider Activity

In related news, CEO Kevin Lee sold 3,212 shares of the 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 completion of the sale, the chief executive officer now directly owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 4,584 shares of company stock worth $102,040 in the last 90 days. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Bicycle Therapeutics by 45.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 401,646 shares of the company’s stock worth $10,001,000 after buying an additional 124,809 shares during the period. Westfield Capital Management Co. LP boosted its position in Bicycle Therapeutics by 13.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock worth $25,869,000 after acquiring an additional 121,613 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Bicycle Therapeutics by 76.7% during the 2nd quarter. TD Asset Management Inc now owns 97,186 shares of the company’s stock worth $1,967,000 after acquiring an additional 42,200 shares in the last quarter. Perceptive Advisors LLC acquired a new stake in shares of Bicycle Therapeutics in the second quarter valued at approximately $11,577,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Bicycle Therapeutics by 275.2% in the second quarter. The Manufacturers Life Insurance Company now owns 97,392 shares of the company’s stock valued at $1,971,000 after purchasing an additional 71,434 shares during the last quarter. 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.