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

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They currently have a $30.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 171.99% from the company’s current price.

A number of other research firms have also issued reports on BCYC. B. Riley lowered their target price on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Bicycle Therapeutics in a research note on Wednesday. Stephens reissued an “equal weight” rating and set a $15.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a report on Friday, November 1st. Finally, JMP Securities dropped their price target on Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Bicycle Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $29.14.

Bicycle Therapeutics Price Performance

Bicycle Therapeutics stock opened at $11.03 on Wednesday. Bicycle Therapeutics has a 12-month low of $10.91 and a 12-month high of $28.67. The stock has a market capitalization of $761.62 million, a PE ratio of -3.35 and a beta of 0.93. The firm has a 50 day simple moving average of $13.35 and a 200-day simple moving average of $19.46.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.10. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm had revenue of $3.70 million during the quarter, compared to analyst estimates of $5.47 million. During the same period last year, the company posted ($1.16) EPS. The firm’s quarterly revenue was down 30.2% on a year-over-year basis. On average, analysts forecast that Bicycle Therapeutics will post -3.06 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Travis Alvin Thompson sold 2,686 shares of Bicycle Therapeutics stock in a transaction on Monday, January 6th. The stock was sold at an average price of $15.00, for a total transaction of $40,290.00. Following the transaction, the chief accounting officer now owns 32,146 shares in the company, valued at approximately $482,190. The trade was a 7.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Santiago Arroyo sold 4,943 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $69,646.87. Following the transaction, the insider now directly owns 69,057 shares in the company, valued at $973,013.13. The trade was a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,677 shares of company stock worth $392,413 over the last 90 days. 8.50% of the stock is owned by company insiders.

Institutional Trading of Bicycle Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Assetmark Inc. acquired a new position in Bicycle Therapeutics in the 3rd quarter valued at approximately $34,000. Barclays PLC grew its holdings in shares of Bicycle Therapeutics by 878.3% during the 4th quarter. Barclays PLC now owns 2,612 shares of the company’s stock valued at $37,000 after acquiring an additional 2,345 shares in the last quarter. Avior Wealth Management LLC purchased a new position in shares of Bicycle Therapeutics during the 4th quarter valued at $57,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Bicycle Therapeutics by 69.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock worth $162,000 after acquiring an additional 2,918 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Bicycle Therapeutics by 26.8% during the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after acquiring an additional 1,782 shares in the last quarter. 86.15% of the stock is currently owned by institutional investors and hedge funds.

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.