Needham & Company LLC Reiterates Buy Rating for Bicycle Therapeutics (NASDAQ:BCYC)

Bicycle Therapeutics (NASDAQ:BCYC)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $30.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 370.22% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Stephens restated an “equal weight” rating and issued a $15.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. HC Wainwright reissued a “buy” rating and issued a $33.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. JMP Securities reduced their target price on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, B. Riley decreased their price target on shares of Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bicycle Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.14.

Bicycle Therapeutics Price Performance

Bicycle Therapeutics stock opened at $6.38 on Wednesday. The firm has a market capitalization of $441.51 million, a P/E ratio of -1.94 and a beta of 1.40. Bicycle Therapeutics has a 1-year low of $6.27 and a 1-year high of $28.67. The company’s 50-day moving average is $10.38 and its 200 day moving average is $16.49.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Tuesday, February 25th. The company reported ($0.75) EPS for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.10. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. The firm had revenue of $3.70 million for the quarter, compared to analysts’ expectations of $5.47 million. During the same quarter in the prior year, the firm posted ($1.16) earnings per share. The company’s quarterly revenue was down 30.2% on a year-over-year basis. Research analysts anticipate that Bicycle Therapeutics will post -3.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bicycle Therapeutics

Large investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in shares of Bicycle Therapeutics by 879.5% during the first 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 in the last quarter. Point72 Asset Management L.P. lifted its holdings in Bicycle Therapeutics by 406.2% during the fourth quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock worth $63,769,000 after buying an additional 3,655,101 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Bicycle Therapeutics by 43.3% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,236 shares of the company’s stock worth $1,123,000 after buying an additional 24,260 shares during the period. Millennium Management LLC bought a new stake in Bicycle Therapeutics during the 4th quarter valued at $2,475,000. Finally, Fcpm Iii Services B.V. increased its holdings 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 valued at $48,333,000 after acquiring an additional 1,112,369 shares during the period. Institutional investors 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.