Bicycle Therapeutics (NASDAQ:BCYC) Price Target Cut to $15.00 by Analysts at Barclays

Bicycle Therapeutics (NASDAQ:BCYC) had its target price lowered by Barclays from $40.00 to $15.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 61.29% from the company’s previous close.

A number of other brokerages have also recently commented on BCYC. Stephens restated an “equal weight” rating and set a $15.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, April 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $33.00 target price on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Bicycle Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Bicycle Therapeutics Price Performance

NASDAQ BCYC opened at $9.30 on Thursday. The stock has a market capitalization of $643.58 million, a P/E ratio of -2.83 and a beta of 1.40. The firm’s 50-day moving average is $8.71 and its two-hundred day moving average is $14.48. Bicycle Therapeutics has a 12 month low of $6.10 and a 12 month high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). The company had revenue of $9.98 million for the quarter, compared to analysts’ expectations of $8.67 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. As a group, analysts anticipate that Bicycle Therapeutics will post -3.06 EPS for the current year.

Institutional Investors Weigh In On Bicycle Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cerity Partners LLC acquired a new stake in Bicycle Therapeutics during the first quarter worth approximately $113,000. Principal Financial Group Inc. grew its position in shares of Bicycle Therapeutics by 55.3% in the 1st quarter. Principal Financial Group Inc. now owns 631,260 shares of the company’s stock valued at $5,359,000 after buying an additional 224,790 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in Bicycle Therapeutics by 90.3% during the 1st quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company’s stock worth $108,000 after acquiring an additional 6,057 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Bicycle Therapeutics by 12.6% in the first quarter. Harbor Capital Advisors Inc. now owns 148,129 shares of the company’s stock valued at $1,258,000 after acquiring an additional 16,624 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Bicycle Therapeutics by 879.5% in the first quarter. GAMMA Investing LLC now owns 8,982 shares of the company’s stock valued at $76,000 after acquiring an additional 8,065 shares during the last quarter. 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.