Bicycle Therapeutics (NASDAQ:BCYC) Given Outperform Rating at Oppenheimer

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “outperform” rating reaffirmed by stock analysts at Oppenheimer in a research note issued on Monday, Marketbeat reports. They presently have a $44.00 price objective on the stock, down from their prior price objective of $48.00.

A number of other equities research analysts have also recently issued reports on the company. JMP Securities decreased their target price on Bicycle Therapeutics from $26.00 to $22.00 and set a “market outperform” rating for the company in a research report on Friday, May 2nd. Barclays reduced their price objective on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Royal Bank Of Canada lowered their target price on shares of Bicycle Therapeutics from $32.00 to $25.00 and set an “outperform” rating on the stock in a research note on Thursday, July 17th. 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. Finally, Needham & Company LLC restated a “buy” rating and set a $29.00 price target on shares of Bicycle Therapeutics in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.22.

Bicycle Therapeutics Price Performance

Shares of Bicycle Therapeutics stock opened at $7.22 on Monday. The firm has a market cap of $499.99 million, a price-to-earnings ratio of -2.06 and a beta of 1.44. The stock has a 50-day simple moving average of $7.92 and a 200-day simple moving average of $8.92. Bicycle Therapeutics has a 52-week low of $6.10 and a 52-week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings results on Friday, August 8th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.19). The business had revenue of $2.90 million for the quarter, compared to the consensus estimate of $9.43 million. Bicycle Therapeutics had a negative net margin of 1,257.00% and a negative return on equity of 32.43%. As a group, equities research analysts predict that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Bicycle Therapeutics by 55.3% during the first quarter. Principal Financial Group Inc. now owns 631,260 shares of the company’s stock worth $5,359,000 after buying an additional 224,790 shares in the last quarter. Baker BROS. Advisors LP grew its position in Bicycle Therapeutics by 15.8% during the 4th quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company’s stock worth $152,395,000 after acquiring an additional 1,485,397 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Bicycle Therapeutics by 90.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company’s stock valued at $108,000 after purchasing an additional 6,057 shares in the last quarter. Fcpm Iii Services B.V. increased its holdings in Bicycle Therapeutics by 47.5% during the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock valued at $48,333,000 after purchasing an additional 1,112,369 shares in the last quarter. Finally, Nan Fung Group Holdings Ltd raised its position in Bicycle Therapeutics by 118.3% in the 4th quarter. Nan Fung Group Holdings Ltd now owns 68,943 shares of the company’s stock valued at $965,000 after purchasing an additional 37,358 shares during 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.