Bicycle Therapeutics plc (NASDAQ:BCYC) Given Average Recommendation of “Moderate Buy” by Brokerages

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

Several analysts recently weighed in on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, September 16th. B. Riley downgraded shares of Bicycle Therapeutics from a “buy” rating to a “neutral” rating and reduced their price target for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price target on shares of Bicycle Therapeutics in a report on Monday, September 16th. HC Wainwright reissued a “buy” rating and issued a $55.00 price objective on shares of Bicycle Therapeutics in a research note on Monday, September 16th. Finally, Royal Bank of Canada started coverage on shares of Bicycle Therapeutics in a research report on Friday, September 6th. They issued an “outperform” rating and a $35.00 target price on the stock.

Bicycle Therapeutics Price Performance

Shares of NASDAQ:BCYC opened at $22.71 on Wednesday. The firm has a 50 day moving average of $23.47 and a 200-day moving average of $22.95. Bicycle Therapeutics has a 12 month low of $12.54 and a 12 month high of $28.20. The company has a current ratio of 14.77, a quick ratio of 14.77 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $971.51 million, a PE ratio of -5.10 and a beta of 0.90.

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

Hedge Funds Weigh In On Bicycle Therapeutics

A number of hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. bought a new position in Bicycle Therapeutics during the 4th quarter worth $137,000. China Universal Asset Management Co. Ltd. raised its position in shares of 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 worth $171,000 after acquiring an additional 2,858 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Bicycle Therapeutics during the second quarter worth about $206,000. PDS Planning Inc acquired a new position in shares of Bicycle Therapeutics in the first quarter worth approximately $210,000. Finally, Natixis Advisors LLC bought a new stake in Bicycle Therapeutics in the second quarter valued at approximately $261,000. Institutional investors and hedge funds 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.