Brokerages Set Bicycle Therapeutics plc (NASDAQ:BCYC) Target Price at $25.00

Bicycle Therapeutics plc (NASDAQ:BCYC) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $25.00.

Several research firms recently commented on BCYC. JMP Securities cut their target price on shares of Bicycle Therapeutics from $26.00 to $22.00 and set a “market outperform” rating for the company in a research note on Friday, May 2nd. Barclays reduced their price target on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. HC Wainwright restated a “buy” rating and issued a $33.00 price target on shares of Bicycle Therapeutics in a research report on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and set a $29.00 price target on shares of Bicycle Therapeutics in a research note on Friday, May 2nd. Finally, Stephens reiterated an “equal weight” rating and issued a $15.00 target price on shares of Bicycle Therapeutics in a research note on Wednesday, January 22nd.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in BCYC. JPMorgan Chase & Co. grew its position in Bicycle Therapeutics by 26.8% in the third quarter. JPMorgan Chase & Co. now owns 8,424 shares of the company’s stock valued at $191,000 after acquiring an additional 1,782 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Bicycle Therapeutics by 30.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,329 shares of the company’s stock worth $131,000 after buying an additional 2,191 shares during the period. Barclays PLC grew its position in shares of Bicycle Therapeutics by 878.3% during the 4th quarter. Barclays PLC now owns 2,612 shares of the company’s stock worth $37,000 after buying an additional 2,345 shares during the period. Tocqueville Asset Management L.P. grew its position in shares of Bicycle Therapeutics by 24.5% during the 1st quarter. Tocqueville Asset Management L.P. now owns 18,300 shares of the company’s stock worth $155,000 after buying an additional 3,600 shares during the period. Finally, Jane Street Group LLC grew its position in shares of Bicycle Therapeutics by 18.9% during the 4th quarter. Jane Street Group LLC now owns 23,991 shares of the company’s stock worth $336,000 after buying an additional 3,811 shares during the period. 86.15% of the stock is owned by institutional investors.

Bicycle Therapeutics Stock Up 6.5%

Bicycle Therapeutics stock opened at $8.63 on Thursday. The firm has a 50-day moving average price of $8.20 and a two-hundred day moving average price of $13.02. The firm has a market capitalization of $597.66 million, a price-to-earnings ratio of -2.62 and a beta of 1.60. Bicycle Therapeutics has a 52-week low of $6.10 and a 52-week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). The company had revenue of $9.98 million during the quarter, compared to analyst estimates of $8.67 million. Bicycle Therapeutics had a negative return on equity of 27.35% and a negative net margin of 450.64%. Research analysts expect that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

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.