Bicycle Therapeutics plc (NASDAQ:BCYC) Receives $44.56 Average Price Target from Brokerages

Bicycle Therapeutics plc (NASDAQ:BCYC) has been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $44.56.

A number of research analysts have weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. HC Wainwright restated a “buy” rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. Needham & Company LLC restated a “buy” rating and issued a $38.00 price objective on shares of Bicycle Therapeutics in a report on Monday, September 16th. B. Riley lowered Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $33.00 to $28.00 in a report on Wednesday, August 7th. Finally, Royal Bank of Canada began coverage on Bicycle Therapeutics in a report on Friday, September 6th. They set an “outperform” rating and a $35.00 price target on the stock.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 380,864 shares in the company, valued at approximately $8,478,032.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 4,584 shares of company stock worth $102,040. 8.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Handelsbanken Fonder AB boosted its stake in shares of Bicycle Therapeutics by 2.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 218,700 shares of the company’s stock worth $4,949,000 after acquiring an additional 5,200 shares in the last quarter. Perceptive Advisors LLC bought a new stake in shares of Bicycle Therapeutics during the 2nd quarter worth about $11,577,000. The Manufacturers Life Insurance Company boosted its stake in shares of Bicycle Therapeutics by 275.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 97,392 shares of the company’s stock worth $1,971,000 after acquiring an additional 71,434 shares in the last quarter. Armistice Capital LLC boosted its stake in Bicycle Therapeutics by 17.9% during the 2nd quarter. Armistice Capital LLC now owns 1,972,000 shares of the company’s stock valued at $39,913,000 after purchasing an additional 300,000 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in Bicycle Therapeutics by 923.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 96,409 shares of the company’s stock valued at $1,951,000 after purchasing an additional 86,989 shares during the period. 86.15% of the stock is owned by institutional investors and hedge funds.

Bicycle Therapeutics Stock Up 6.3 %

Shares of Bicycle Therapeutics stock opened at $23.60 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.77 and a quick ratio of 14.77. Bicycle Therapeutics has a 1 year low of $12.54 and a 1 year high of $28.20. The firm’s 50-day moving average is $23.36 and its two-hundred day moving average is $22.90. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -5.30 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.77) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $9.36 million during the quarter, compared to analyst estimates of $6.13 million. Bicycle Therapeutics’s revenue was down 17.9% compared to the same quarter last year. As a group, research analysts expect that Bicycle Therapeutics will post -3.17 earnings per share for the current fiscal year.

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.