What is Leerink Partnrs’ Forecast for BCYC FY2024 Earnings?

Bicycle Therapeutics plc (NASDAQ:BCYC) – Research analysts at Leerink Partnrs raised their FY2024 earnings per share (EPS) estimates for Bicycle Therapeutics in a research report issued on Monday, January 13th. Leerink Partnrs analyst J. Chang now anticipates that the company will earn ($3.01) per share for the year, up from their prior forecast of ($3.03). The consensus estimate for Bicycle Therapeutics’ current full-year earnings is ($3.05) per share. Leerink Partnrs also issued estimates for Bicycle Therapeutics’ Q4 2024 earnings at ($0.83) EPS, Q1 2025 earnings at ($0.84) EPS, Q2 2025 earnings at ($0.86) EPS, Q3 2025 earnings at ($0.86) EPS, Q4 2025 earnings at ($0.87) EPS and FY2025 earnings at ($3.43) EPS.

Several other equities research analysts have also recently weighed in on the company. B. Riley cut their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Needham & Company LLC restated a “buy” rating and set a $32.00 target price on shares of Bicycle Therapeutics in a research note on Monday. Stephens initiated coverage on Bicycle Therapeutics in a research note on Friday, November 8th. They set an “equal weight” rating and a $25.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Finally, JMP Securities cut their target price on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Bicycle Therapeutics Price Performance

Shares of NASDAQ:BCYC opened at $13.59 on Thursday. The company has a market capitalization of $938.39 million, a P/E ratio of -4.13 and a beta of 0.92. Bicycle Therapeutics has a 1 year low of $12.17 and a 1 year high of $28.67. The business’s 50 day simple moving average is $17.77 and its 200 day simple moving average is $21.51.

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

Insider Activity

In other news, CAO Travis Alvin Thompson sold 6,256 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $25.11, for a total value of $157,088.16. Following the completion of the transaction, the chief accounting officer now directly owns 19,241 shares in the company, valued at approximately $483,141.51. This represents a 24.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin Lee sold 9,038 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $127,345.42. Following the completion of the transaction, the chief executive officer now owns 495,026 shares of the company’s stock, valued at $6,974,916.34. The trade was a 1.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,933 shares of company stock worth $549,501. Insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. FMR LLC bought a new position in Bicycle Therapeutics during the 3rd quarter worth $3,406,000. The Manufacturers Life Insurance Company raised its position in Bicycle Therapeutics by 33.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 129,705 shares of the company’s stock worth $2,935,000 after purchasing an additional 32,313 shares during the last quarter. Principal Financial Group Inc. bought a new position in Bicycle Therapeutics during the 3rd quarter worth $10,028,000. State Street Corp raised its position in Bicycle Therapeutics by 233.5% during the 3rd quarter. State Street Corp now owns 86,271 shares of the company’s stock worth $1,952,000 after purchasing an additional 60,399 shares during the last quarter. Finally, Perceptive Advisors LLC bought a new position in Bicycle Therapeutics during the 2nd quarter worth $11,577,000. 86.15% of the stock is 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.