Brokerages Set Bicycle Therapeutics plc (NASDAQ:BCYC) Target Price at $47.88

Shares of Bicycle Therapeutics plc (NASDAQ:BCYC) have earned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $47.88.

A number of equities analysts recently issued reports on the stock. HC Wainwright cut their price objective on shares of Bicycle Therapeutics from $57.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. Canaccord Genuity Group reiterated a “buy” rating and set a $60.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, February 21st. JMP Securities reduced their price target on shares of Bicycle Therapeutics from $44.00 to $32.00 and set a “market outperform” rating for the company in a research report on Wednesday, December 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday, April 10th.

Insider Buying and Selling at Bicycle Therapeutics

In other news, CEO Kevin Lee sold 3,158 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $23.81, for a total value of $75,191.98. Following the transaction, the chief executive officer now directly owns 387,270 shares in the company, valued at approximately $9,220,898.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders sold 5,312 shares of company stock worth $126,139. Insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On Bicycle Therapeutics

Institutional investors have recently made changes to their positions in the business. Braidwell LP purchased a new position in Bicycle Therapeutics during the third quarter valued at $25,914,000. Westfield Capital Management Co. LP purchased a new position in shares of Bicycle Therapeutics during the 4th quarter valued at about $16,585,000. RA Capital Management L.P. bought a new position in shares of Bicycle Therapeutics during the 3rd quarter valued at approximately $16,072,000. Armistice Capital LLC grew its stake in shares of Bicycle Therapeutics by 53.6% during the 4th quarter. Armistice Capital LLC now owns 1,536,000 shares of the company’s stock valued at $27,771,000 after acquiring an additional 536,000 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new stake in Bicycle Therapeutics in the 3rd quarter worth approximately $9,015,000. Institutional investors own 86.15% of the company’s stock.

Bicycle Therapeutics Stock Performance

Shares of BCYC opened at $21.93 on Wednesday. Bicycle Therapeutics has a 52 week low of $12.54 and a 52 week high of $28.91. The company has a quick ratio of 8.08, a current ratio of 8.08 and a debt-to-equity ratio of 0.08. The stock has a market cap of $658.78 million, a P/E ratio of -4.27 and a beta of 0.89. The business’s 50 day moving average price is $23.42 and its 200-day moving average price is $19.22.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Tuesday, February 20th. The company reported ($1.16) EPS for the quarter, topping the consensus estimate of ($1.23) by $0.07. Bicycle Therapeutics had a negative return on equity of 57.80% and a negative net margin of 669.72%. The business had revenue of $5.33 million for the quarter, compared to the consensus estimate of $11.68 million. Equities research analysts anticipate that Bicycle Therapeutics will post -5.2 earnings per share for the current fiscal year.

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.