Analysts Set Bicycle Therapeutics plc (NASDAQ:BCYC) Price Target at $46.86

Bicycle Therapeutics plc (NASDAQ:BCYC) has earned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $46.86.

A number of brokerages have recently commented on BCYC. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and set a $43.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, April 10th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $60.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, February 21st.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,158 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $23.81, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 5,312 shares of company stock valued at $126,139 over the last ninety days. Corporate insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of hedge funds have recently added to or reduced their stakes in BCYC. BluePath Capital Management LLC bought a new position in Bicycle Therapeutics in the 3rd quarter worth approximately $31,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Bicycle Therapeutics by 489.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,001 shares of the company’s stock worth $72,000 after purchasing an additional 3,322 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Bicycle Therapeutics by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,727 shares of the company’s stock worth $122,000 after purchasing an additional 1,706 shares during the period. PNC Financial Services Group Inc. bought a new position in Bicycle Therapeutics during the fourth quarter valued at approximately $137,000. Finally, PDS Planning Inc bought a new position in shares of Bicycle Therapeutics in the first quarter valued at approximately $210,000. 86.15% of the stock is currently owned by institutional investors.

Bicycle Therapeutics Stock Performance

Shares of BCYC opened at $23.08 on Friday. The company’s 50 day simple moving average is $23.92 and its 200-day simple moving average is $19.57. The company has a current ratio of 10.42, a quick ratio of 10.42 and a debt-to-equity ratio of 0.09. The firm has a market cap of $693.32 million, a PE ratio of -5.19 and a beta of 0.90. Bicycle Therapeutics has a 12-month low of $12.54 and a 12-month high of $28.91.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its earnings results on Thursday, May 2nd. The company reported ($0.62) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.25) by $0.63. Bicycle Therapeutics had a negative net margin of 404.14% and a negative return on equity of 49.35%. The company had revenue of $19.53 million during the quarter, compared to analysts’ expectations of $6.06 million. Bicycle Therapeutics’s revenue for the quarter was up 298.9% on a year-over-year basis. As a group, equities analysts predict that Bicycle Therapeutics will post -5.13 EPS for the current year.

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.