Analysts Set Bicycle Therapeutics plc (NASDAQ:BCYC) Price Target at $25.00

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) have received a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $25.00.

Several equities analysts have recently issued reports on BCYC shares. Stephens reiterated an “equal weight” rating and set a $15.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, January 22nd. HC Wainwright reiterated a “buy” rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. B. Riley cut their price target on shares of Bicycle Therapeutics from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Royal Bank of Canada lowered their price objective on shares of Bicycle Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $29.00 target price on shares of Bicycle Therapeutics in a research note on Friday, May 2nd.

Bicycle Therapeutics Stock Performance

NASDAQ:BCYC opened at $8.05 on Thursday. Bicycle Therapeutics has a 1 year low of $6.10 and a 1 year high of $28.67. The business has a fifty day moving average of $8.15 and a 200-day moving average of $12.95. The stock has a market cap of $557.49 million, a price-to-earnings ratio of -2.45 and a beta of 1.60.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Thursday, May 1st. The company reported ($0.88) 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 analyst estimates of $8.67 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. On average, equities research analysts predict that Bicycle Therapeutics will post -3.06 EPS for the current year.

Hedge Funds Weigh In On Bicycle Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCYC. Baker BROS. Advisors LP boosted its position in shares of Bicycle Therapeutics by 15.8% in the fourth quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company’s stock worth $152,395,000 after buying an additional 1,485,397 shares during the period. Point72 Asset Management L.P. boosted its position in Bicycle Therapeutics by 406.2% during the 4th quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock worth $63,769,000 after acquiring an additional 3,655,101 shares during the period. Fcpm Iii Services B.V. grew its stake 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 acquiring an additional 1,112,369 shares in the last quarter. Armistice Capital LLC increased its holdings in shares of Bicycle Therapeutics by 21.7% in the 1st quarter. Armistice Capital LLC now owns 2,672,000 shares of the company’s stock valued at $22,685,000 after purchasing an additional 476,000 shares during the period. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Bicycle Therapeutics by 1.8% in the 1st quarter. Westfield Capital Management Co. LP now owns 2,657,305 shares of the company’s stock valued at $22,561,000 after purchasing an additional 46,968 shares during the period. 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.