Roth Capital Begins Coverage on Bicycle Therapeutics (NASDAQ:BCYC)

Posted by Logan Wallace on Nov 19th, 2019

Roth Capital started coverage on shares of Bicycle Therapeutics (NASDAQ:BCYC) in a research note published on Thursday morning, Briefing.com Automated Import reports. The firm issued a buy rating and a $17.00 target price on the stock.

Several other research firms also recently weighed in on BCYC. Zacks Investment Research downgraded shares of Bicycle Therapeutics from a hold rating to a sell rating in a report on Wednesday, November 13th. Goldman Sachs Group upgraded shares of Bicycle Therapeutics from a neutral rating to a buy rating and set a $14.00 price objective on the stock in a report on Wednesday, September 11th. Finally, Canaccord Genuity set a $22.00 price objective on shares of Bicycle Therapeutics and gave the stock a buy rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Bicycle Therapeutics currently has a consensus rating of Buy and a consensus price target of $19.00.

BCYC traded up $0.09 during trading on Thursday, hitting $9.48. 8,600 shares of the company’s stock were exchanged, compared to its average volume of 31,442. The firm’s 50 day moving average price is $9.69. Bicycle Therapeutics has a fifty-two week low of $6.24 and a fifty-two week high of $14.91.

Bicycle Therapeutics (NASDAQ:BCYC) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.53) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.58) by $0.05. Bicycle Therapeutics had a negative net margin of 342.94% and a negative return on equity of 238.49%. The firm had revenue of $0.61 million for the quarter, compared to the consensus estimate of $1.00 million. On average, analysts forecast that Bicycle Therapeutics will post -3.18 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Monashee Investment Management LLC bought a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth $532,000. Pentwater Capital Management LP bought a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth $642,000. Laurion Capital Management LP bought a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth $1,006,000. Victory Capital Management Inc. bought a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth $1,403,000. Finally, Atlas Venture Advisors Inc. bought a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth $13,709,000. Hedge funds and other institutional investors own 36.92% of the company’s stock.

Bicycle Therapeutics Company Profile

Bicycle Therapeutics Limited, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics. Its lead product candidate is BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease.