Needham & Company LLC Reiterates “Buy” Rating for Bicycle Therapeutics (NASDAQ:BCYC)

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research note issued to investors on Monday, Benzinga reports. They presently have a $38.00 price target on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 55.67% from the stock’s previous close.

BCYC has been the topic of several other reports. Oppenheimer restated an “outperform” rating and set a $48.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, August 7th. HC Wainwright restated a “buy” rating and issued a $55.00 target price on shares of Bicycle Therapeutics in a research note on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a research report on Monday, September 9th. Royal Bank of Canada initiated coverage on Bicycle Therapeutics in a research note on Friday, September 6th. They issued an “outperform” rating and a $35.00 price objective for the company. Finally, B. Riley cut Bicycle Therapeutics from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $33.00 to $28.00 in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $44.56.

Bicycle Therapeutics Stock Performance

Shares of Bicycle Therapeutics stock opened at $24.41 on Monday. Bicycle Therapeutics has a 52 week low of $12.54 and a 52 week high of $28.20. The company has a quick ratio of 14.77, a current ratio of 14.77 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $23.24 and a 200-day moving average price of $22.99. The company has a market cap of $1.16 billion, a PE ratio of -5.49 and a beta of 0.90.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.77) EPS for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.33. The business had revenue of $9.36 million during the quarter, compared to analyst estimates of $6.13 million. Bicycle Therapeutics had a negative return on equity of 32.80% and a negative net margin of 417.88%. Bicycle Therapeutics’s revenue was down 17.9% compared to the same quarter last year. Equities analysts anticipate that Bicycle Therapeutics will post -3.17 earnings per share for the current fiscal year.

Insider Transactions at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,194 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $19.64, for a total value of $62,730.16. Following the sale, the chief executive officer now owns 384,076 shares of the company’s stock, valued at $7,543,252.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 4,555 shares of company stock worth $89,460. 8.50% of the stock is owned by company insiders.

Institutional Trading of Bicycle Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. grew its stake in Bicycle Therapeutics by 71.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,859 shares of the company’s stock valued at $171,000 after acquiring an additional 2,858 shares in the last quarter. Woodstock Corp boosted its stake in Bicycle Therapeutics by 16.3% during the first quarter. Woodstock Corp now owns 24,981 shares of the company’s stock valued at $622,000 after buying an additional 3,502 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Bicycle Therapeutics by 0.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock worth $17,975,000 after buying an additional 4,976 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in Bicycle Therapeutics in the 4th quarter worth about $137,000. Finally, L & S Advisors Inc raised its holdings in shares of Bicycle Therapeutics by 16.1% in the 2nd quarter. L & S Advisors Inc now owns 58,335 shares of the company’s stock valued at $1,181,000 after acquiring an additional 8,075 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors.

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.