Royal Bank Of Canada Lowers Bicycle Therapeutics (NASDAQ:BCYC) Price Target to $25.00

Bicycle Therapeutics (NASDAQ:BCYC) had its target price decreased by research analysts at Royal Bank Of Canada from $32.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 192.06% from the stock’s previous close.

Several other research firms also recently commented on BCYC. Barclays cut their target price on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. JMP Securities cut their target price on shares of Bicycle Therapeutics from $26.00 to $22.00 and set a “market outperform” rating on the stock in a research report on Friday, May 2nd. Needham & Company LLC reiterated a “buy” rating and set a $29.00 target price on shares of Bicycle Therapeutics in a research report on Friday, May 2nd. B. Riley cut their target price on shares of Bicycle Therapeutics from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Finally, Morgan Stanley set a $17.00 target price on shares of Bicycle Therapeutics and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.22.

Bicycle Therapeutics Trading Up 6.5%

Shares of Bicycle Therapeutics stock opened at $8.56 on Thursday. The firm has a market capitalization of $592.78 million, a PE ratio of -2.73 and a beta of 1.41. The firm’s 50 day moving average is $7.96 and its 200 day moving average is $9.65. Bicycle Therapeutics has a 1 year low of $6.10 and a 1 year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.02). The company had revenue of $9.98 million for the quarter, compared to the consensus estimate of $8.67 million. Bicycle Therapeutics had a negative net margin of 790.07% and a negative return on equity of 25.54%. As a group, research analysts anticipate that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC lifted its position in shares of Bicycle Therapeutics by 878.3% in the 4th quarter. Barclays PLC now owns 2,612 shares of the company’s stock worth $37,000 after purchasing an additional 2,345 shares during the period. GAMMA Investing LLC raised its holdings in Bicycle Therapeutics by 879.5% during the first quarter. GAMMA Investing LLC now owns 8,982 shares of the company’s stock worth $76,000 after buying an additional 8,065 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in Bicycle Therapeutics by 90.3% during the first quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company’s stock worth $108,000 after buying an additional 6,057 shares during the last quarter. Cerity Partners LLC acquired a new position in Bicycle Therapeutics during the first quarter worth $113,000. Finally, Portland Investment Counsel Inc. bought a new stake in shares of Bicycle Therapeutics in the 1st quarter worth $127,000. 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.