Leerink Partnrs Has Bullish Outlook for BCYC FY2024 Earnings

Bicycle Therapeutics plc (NASDAQ:BCYC) – Research analysts at Leerink Partnrs increased their FY2024 earnings estimates for Bicycle Therapeutics in a research report issued to clients and investors on Monday, January 13th. Leerink Partnrs analyst J. Chang now anticipates that the company will post earnings of ($3.01) per share for the year, up from their prior estimate of ($3.03). The consensus estimate for Bicycle Therapeutics’ current full-year earnings is ($3.05) per share. Leerink Partnrs also issued estimates for Bicycle Therapeutics’ Q4 2024 earnings at ($0.83) EPS, Q1 2025 earnings at ($0.84) EPS, Q2 2025 earnings at ($0.86) EPS, Q3 2025 earnings at ($0.86) EPS, Q4 2025 earnings at ($0.87) EPS and FY2025 earnings at ($3.43) EPS.

Several other brokerages have also recently issued reports on BCYC. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price objective on shares of Bicycle Therapeutics in a research note on Monday. JMP Securities lowered their price target on shares of Bicycle Therapeutics from $32.00 to $26.00 and set a “market outperform” rating for the company in a report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price objective on shares of Bicycle Therapeutics in a report on Friday, November 1st. Stephens assumed coverage on shares of Bicycle Therapeutics in a research note on Friday, November 8th. They set an “equal weight” rating and a $25.00 target price for the company. Finally, B. Riley decreased their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

Bicycle Therapeutics Price Performance

BCYC opened at $14.55 on Thursday. The business has a fifty day moving average price of $17.99 and a 200 day moving average price of $21.56. Bicycle Therapeutics has a 12 month low of $12.17 and a 12 month high of $28.67. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -4.42 and a beta of 0.92.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.04. The business had revenue of $2.68 million during the quarter, compared to the consensus estimate of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company’s quarterly revenue was down 50.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.26) earnings per share.

Insider Activity at Bicycle Therapeutics

In other Bicycle Therapeutics news, insider Santiago Arroyo sold 4,943 shares of Bicycle Therapeutics stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $14.09, for a total value of $69,646.87. Following the transaction, the insider now directly owns 69,057 shares in the company, valued at approximately $973,013.13. The trade was a 6.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Travis Alvin Thompson sold 6,256 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $25.11, for a total transaction of $157,088.16. Following the sale, the chief accounting officer now owns 19,241 shares of the company’s stock, valued at $483,141.51. This trade represents a 24.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,933 shares of company stock valued at $549,501 in the last three months. 8.50% of the stock is currently owned by company insiders.

Institutional Trading of Bicycle Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. purchased a new position in shares of Bicycle Therapeutics in the 3rd quarter valued at approximately $34,000. GAMMA Investing LLC grew its position in Bicycle Therapeutics by 105.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,026 shares of the company’s stock valued at $46,000 after buying an additional 1,038 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in Bicycle Therapeutics by 69.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,138 shares of the company’s stock valued at $162,000 after buying an additional 2,918 shares during the period. JPMorgan Chase & Co. raised its position in Bicycle Therapeutics by 26.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock worth $191,000 after buying an additional 1,782 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth $206,000. 86.15% of the stock is owned by hedge funds and other institutional investors.

About Bicycle Therapeutics

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.