FY2024 EPS Forecast for Bicycle Therapeutics Cut by Analyst

Bicycle Therapeutics plc (NASDAQ:BCYC) – B. Riley cut their FY2024 EPS estimates for shares of Bicycle Therapeutics in a research report issued on Monday, November 18th. B. Riley analyst K. Patel now forecasts that the company will post earnings of ($2.83) per share for the year, down from their previous estimate of ($2.33). B. Riley currently has a “Neutral” rating and a $28.00 target price on the stock. The consensus estimate for Bicycle Therapeutics’ current full-year earnings is ($3.01) per share. B. Riley also issued estimates for Bicycle Therapeutics’ Q4 2024 earnings at ($0.80) EPS, FY2025 earnings at ($3.70) EPS, FY2026 earnings at ($4.26) EPS, FY2027 earnings at ($4.26) EPS and FY2028 earnings at ($3.68) EPS.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its earnings results on Thursday, October 31st. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.04. The business had revenue of $2.68 million during the quarter, compared to the consensus estimate of $6.82 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The business’s quarterly revenue was down 50.0% on a year-over-year basis. During the same period in the previous year, the business earned ($1.26) EPS.

BCYC has been the subject of several other research reports. JMP Securities reiterated a “market outperform” rating and issued a $32.00 price target on shares of Bicycle Therapeutics in a research report on Monday, September 16th. Stephens began coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $55.00 price target on shares of Bicycle Therapeutics in a report on Friday, November 1st. Oppenheimer reaffirmed an “outperform” rating and set a $48.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Bicycle Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $40.13.

Bicycle Therapeutics Trading Up 0.1 %

Shares of NASDAQ BCYC opened at $20.48 on Wednesday. The stock has a market cap of $973.82 million, a P/E ratio of -6.22 and a beta of 0.89. Bicycle Therapeutics has a twelve month low of $13.07 and a twelve month high of $28.67. The stock has a 50 day moving average of $24.37 and a two-hundred day moving average of $23.10.

Insider Buying and Selling at Bicycle Therapeutics

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $22.26, for a total value of $71,499.12. Following the completion of the sale, the chief executive officer now owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Travis Alvin Thompson sold 6,256 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $25.11, for a total transaction of $157,088.16. Following the transaction, the chief accounting officer now directly owns 19,241 shares in the company, valued at approximately $483,141.51. This trade represents a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,840 shares of company stock valued at $259,128. 8.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bicycle Therapeutics

Several institutional investors have recently modified their holdings of BCYC. Geode Capital Management LLC increased its stake in Bicycle Therapeutics by 79.3% in the 3rd quarter. Geode Capital Management LLC now owns 38,335 shares of the company’s stock valued at $868,000 after purchasing an additional 16,958 shares in the last quarter. Jane Street Group LLC increased its position in shares of Bicycle Therapeutics by 35.7% in the third quarter. Jane Street Group LLC now owns 20,180 shares of the company’s stock valued at $457,000 after buying an additional 5,310 shares in the last quarter. State Street Corp raised its stake in shares of Bicycle Therapeutics by 233.5% during the 3rd quarter. State Street Corp now owns 86,271 shares of the company’s stock worth $1,952,000 after buying an additional 60,399 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of Bicycle Therapeutics by 1,438.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 899,799 shares of the company’s stock worth $20,362,000 after buying an additional 841,299 shares during the last quarter. Finally, HighVista Strategies LLC boosted its position in shares of Bicycle Therapeutics by 9.7% in the 3rd quarter. HighVista Strategies LLC now owns 139,544 shares of the company’s stock worth $3,158,000 after buying an additional 12,289 shares in the last quarter. Hedge funds and other 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.