Bicycle Therapeutics plc (NASDAQ:BCYC) Receives $44.56 Consensus Target Price from Analysts

Bicycle Therapeutics plc (NASDAQ:BCYC) has earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $44.56.

Several equities research analysts have recently issued reports on BCYC shares. Cantor Fitzgerald restated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Bicycle Therapeutics in a report on Monday, September 16th. Royal Bank of Canada initiated coverage on shares of Bicycle Therapeutics in a report on Friday, September 6th. They set an “outperform” rating and a $35.00 target price on the stock. JMP Securities reissued a “market outperform” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a report on Monday, September 16th. Finally, Oppenheimer reissued an “outperform” rating and set a $48.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, August 7th.

Bicycle Therapeutics Trading Up 0.6 %

Shares of BCYC stock opened at $23.53 on Wednesday. The company has a 50 day moving average of $23.34 and a 200-day moving average of $22.87. The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01. Bicycle Therapeutics has a 12-month low of $12.54 and a 12-month high of $28.20. The firm has a market cap of $1.01 billion, a P/E ratio of -5.29 and a beta of 0.89.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.36 million during the quarter, compared to analyst estimates of $6.13 million. The company’s revenue was down 17.9% on a year-over-year basis. Sell-side analysts anticipate that Bicycle Therapeutics will post -3.17 earnings per share for the current year.

Insider Transactions at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,212 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total value of $71,499.12. Following the transaction, the chief executive officer now owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 4,584 shares of company stock valued at $102,040. 8.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BCYC. Baker BROS. Advisors LP increased its stake 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 last quarter. Avoro Capital Advisors LLC bought a new position in Bicycle Therapeutics in the second quarter valued at $14,168,000. Perceptive Advisors LLC bought a new position in Bicycle Therapeutics in the second quarter valued at $11,577,000. Armistice Capital LLC increased its stake 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 last quarter. Finally, First Light Asset Management LLC increased its stake 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 last quarter. 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.