Bicycle Therapeutics (NASDAQ:BCYC) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $38.00 target price on the stock.

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

Bicycle Therapeutics Stock Performance

Shares of BCYC stock opened at $26.96 on Monday. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average price is $22.63 and its 200-day moving average price is $22.97. The stock has a market cap of $1.28 billion, a PE ratio of -6.06 and a beta of 0.90. Bicycle Therapeutics has a 12 month low of $12.54 and a 12 month high of $27.82.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.77) earnings per share 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 for the quarter, compared to analysts’ expectations of $6.13 million. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. On average, equities analysts expect that Bicycle Therapeutics will post -3.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total transaction of $62,730.16. Following the completion of the sale, the chief executive officer now directly owns 384,076 shares in the company, valued at approximately $7,543,252.64. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders have sold 4,555 shares of company stock worth $89,460. 8.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Baker BROS. Advisors LP lifted its holdings in Bicycle Therapeutics by 176.1% in the first quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock valued at $123,076,000 after acquiring an additional 3,152,433 shares during the period. Armistice Capital LLC lifted its holdings in Bicycle Therapeutics by 17.9% in the second quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after acquiring an additional 300,000 shares during the period. First Light Asset Management LLC lifted its holdings in Bicycle Therapeutics by 16.1% in the second quarter. First Light Asset Management LLC now owns 1,384,768 shares of the company’s stock valued at $28,028,000 after acquiring an additional 191,717 shares during the period. Westfield Capital Management Co. LP lifted its holdings in Bicycle Therapeutics by 13.3% in the first quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock valued at $25,869,000 after acquiring an additional 121,613 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Bicycle Therapeutics by 0.6% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock valued at $17,975,000 after acquiring an additional 4,976 shares during the period. Institutional investors own 86.15% of the company’s stock.

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.