B. Riley Predicts Lower Earnings for Bicycle Therapeutics

Bicycle Therapeutics plc (NASDAQ:BCYC) – Analysts at B. Riley lowered their FY2024 earnings per share (EPS) estimates for shares of Bicycle Therapeutics in a research report issued to clients and investors on Monday, November 18th. B. Riley analyst K. Patel now anticipates that the company will post earnings of ($2.83) per share for the year, down from their prior forecast 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.

Several other research firms also recently commented on BCYC. HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st. Stephens began coverage on shares of Bicycle Therapeutics in a research report on Friday, November 8th. They set an “equal weight” rating and a $25.00 target price on the stock. 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. Cantor Fitzgerald reiterated an “overweight” rating on shares of Bicycle Therapeutics in a research note on Monday, September 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $38.00 target price on shares of Bicycle Therapeutics in a research note on Thursday, October 31st. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.13.

Bicycle Therapeutics Stock Performance

Shares of Bicycle Therapeutics stock opened at $20.36 on Wednesday. The company has a market capitalization of $968.12 million, a P/E ratio of -6.19 and a beta of 0.89. The company has a fifty day moving average of $24.37 and a 200 day moving average of $23.10. Bicycle Therapeutics has a fifty-two week low of $13.07 and a fifty-two week high of $28.67.

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

Hedge Funds Weigh In On Bicycle Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in Bicycle Therapeutics by 45.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 401,646 shares of the company’s stock worth $10,001,000 after buying an additional 124,809 shares during the period. Baker BROS. Advisors LP grew its holdings in Bicycle Therapeutics by 176.1% during the 1st quarter. Baker BROS. Advisors LP now owns 4,942,823 shares of the company’s stock worth $123,076,000 after acquiring an additional 3,152,433 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Bicycle Therapeutics by 27.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 55,289 shares of the company’s stock worth $1,119,000 after acquiring an additional 11,809 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Bicycle Therapeutics by 0.6% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 888,081 shares of the company’s stock worth $17,975,000 after acquiring an additional 4,976 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in shares of Bicycle Therapeutics by 202.2% in the 2nd quarter. Pinnacle Associates Ltd. now owns 242,001 shares of the company’s stock valued at $4,898,000 after buying an additional 161,911 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bicycle Therapeutics

In related news, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total transaction of $71,499.12. Following the transaction, the chief executive officer now directly owns 380,864 shares in the company, valued at approximately $8,478,032.64. The trade was a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Travis Alvin Thompson sold 6,256 shares of the business’s stock in a transaction dated 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 owns 19,241 shares in the company, valued at $483,141.51. The trade was a 24.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,840 shares of company stock valued at $259,128. Corporate insiders own 8.50% 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.