JMP Securities Cuts Bicycle Therapeutics (NASDAQ:BCYC) Price Target to $10.00

Bicycle Therapeutics (NASDAQ:BCYC) had its price objective reduced by JMP Securities from $22.00 to $10.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a market outperform rating on the stock.

Several other brokerages have also recently issued reports on BCYC. Barclays dropped their price objective on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley dropped their price objective on shares of Bicycle Therapeutics from $17.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Oppenheimer reissued an “outperform” rating and issued a $44.00 price objective (down from $48.00) on shares of Bicycle Therapeutics in a research note on Monday. Royal Bank Of Canada set a $27.00 price objective on shares of Bicycle Therapeutics and gave the company an “outperform” rating in a research note on Monday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $29.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus 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 Tuesday. The firm’s fifty day simple moving average is $7.92 and its 200-day simple moving average is $8.92. The stock has a market capitalization of $499.99 million, a price-to-earnings ratio of -2.06 and a beta of 1.44. Bicycle Therapeutics has a 12 month low of $6.10 and a 12 month high of $28.67.

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

Institutional Investors Weigh In On Bicycle Therapeutics

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in shares of Bicycle Therapeutics by 55.3% during the 1st quarter. Principal Financial Group Inc. now owns 631,260 shares of the company’s stock worth $5,359,000 after purchasing an additional 224,790 shares in the last quarter. Baker BROS. Advisors LP boosted its position in shares of 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 purchasing an additional 1,485,397 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of 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 purchasing an additional 6,057 shares in the last quarter. Fcpm Iii Services B.V. boosted its position in shares of Bicycle Therapeutics by 47.5% in the 4th quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company’s stock worth $48,333,000 after buying an additional 1,112,369 shares in the last quarter. Finally, Nan Fung Group Holdings Ltd boosted its position in shares of Bicycle Therapeutics by 118.3% in the 4th quarter. Nan Fung Group Holdings Ltd now owns 68,943 shares of the company’s stock worth $965,000 after buying an additional 37,358 shares in the last quarter. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

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.