Bicycle Therapeutics (NASDAQ:BCYC) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research report released on Friday morning, Benzinga reports. HC Wainwright currently has a $55.00 price objective on the stock.

A number of other research analysts also recently weighed in on the company. Needham & Company LLC reiterated a buy rating and set a $43.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, April 10th. Canaccord Genuity Group reaffirmed a buy rating and issued a $60.00 price target on shares of Bicycle Therapeutics in a research note on Wednesday, February 21st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Bicycle Therapeutics currently has an average rating of Moderate Buy and an average price target of $46.86.

Bicycle Therapeutics Price Performance

Shares of Bicycle Therapeutics stock opened at $24.58 on Friday. The business has a 50 day moving average of $24.02 and a 200 day moving average of $19.49. Bicycle Therapeutics has a 52 week low of $12.54 and a 52 week high of $28.91. The company has a market cap of $738.38 million, a PE ratio of -5.52 and a beta of 0.90. The company has a quick ratio of 8.08, a current ratio of 8.08 and a debt-to-equity ratio of 0.08.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($1.25) by $0.63. The business had revenue of $19.53 million during the quarter, compared to analyst estimates of $6.06 million. Bicycle Therapeutics had a negative net margin of 404.14% and a negative return on equity of 50.10%. The firm’s revenue for the quarter was up 298.9% compared to the same quarter last year. As a group, equities research analysts forecast that Bicycle Therapeutics will post -5.13 earnings per share for the current year.

Insider Buying and Selling at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,158 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total value of $75,191.98. Following the sale, the chief executive officer now directly owns 387,270 shares of the company’s stock, valued at $9,220,898.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 5,312 shares of company stock worth $126,139. 10.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Braidwell LP purchased a new position in shares of Bicycle Therapeutics in the third quarter worth $25,914,000. Westfield Capital Management Co. LP bought a new position in Bicycle Therapeutics during the 4th quarter valued at about $16,585,000. RA Capital Management L.P. bought a new position in Bicycle Therapeutics during the 3rd quarter valued at about $16,072,000. Armistice Capital LLC boosted its holdings in shares of Bicycle Therapeutics by 53.6% during the 4th quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock valued at $27,771,000 after acquiring an additional 536,000 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C bought a new stake in shares of Bicycle Therapeutics in the third quarter worth approximately $9,015,000. 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.