Bicycle Therapeutics’ (BCYC) “Outperform” Rating Reiterated at Oppenheimer

Oppenheimer reissued their outperform rating on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research note released on Monday morning, MarketBeat.com reports. Oppenheimer currently has a $44.00 price target on the stock, down from their previous price target of $48.00.

BCYC has been the topic of a number of other research reports. JMP Securities reduced their price objective on 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 restated a “buy” rating and set a $29.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, May 2nd. Morgan Stanley set a $17.00 price objective on Bicycle Therapeutics and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Barclays reduced their price target on Bicycle Therapeutics from $40.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada reduced their price target on Bicycle Therapeutics from $32.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Three equities 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Bicycle Therapeutics Stock Performance

Shares of BCYC opened at $7.46 on Monday. The firm has a market cap of $516.61 million, a price-to-earnings ratio of -2.13 and a beta of 1.44. Bicycle Therapeutics has a 52-week low of $6.10 and a 52-week high of $28.67. The business’s fifty day moving average is $7.94 and its 200-day moving average is $8.93.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings data 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 firm had revenue of $2.90 million for the quarter, compared to the consensus estimate of $9.43 million. Bicycle Therapeutics had a negative return on equity of 31.20% and a negative net margin of 1,257.00%. As a group, research analysts forecast that Bicycle Therapeutics will post -3.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BCYC. Barclays PLC lifted its stake in shares of Bicycle Therapeutics by 878.3% in the 4th quarter. Barclays PLC now owns 2,612 shares of the company’s stock valued at $37,000 after purchasing an additional 2,345 shares during the period. GAMMA Investing LLC lifted its stake in shares of Bicycle Therapeutics by 879.5% in the 1st quarter. GAMMA Investing LLC now owns 8,982 shares of the company’s stock valued at $76,000 after purchasing an additional 8,065 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Bicycle Therapeutics by 90.3% in 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 during the period. Cerity Partners LLC acquired a new position in shares of Bicycle Therapeutics in the 1st quarter valued at about $113,000. Finally, Portland Investment Counsel Inc. acquired a new position in shares of Bicycle Therapeutics in the 1st quarter valued at about $127,000. 86.15% of the stock is 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.