Bicycle Therapeutics (NASDAQ:BCYC) Price Target Raised to $85.00

Bicycle Therapeutics (NASDAQ:BCYC) had its price objective boosted by research analysts at JMP Securities from $53.00 to $85.00 in a research note issued on Thursday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. JMP Securities’ price objective would indicate a potential upside of 50.76% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. B. Riley increased their price objective on shares of Bicycle Therapeutics from $56.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, October 8th. Roth Capital increased their target price on shares of Bicycle Therapeutics from $35.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, October 7th. Oppenheimer increased their target price on shares of Bicycle Therapeutics from $47.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, October 8th. Zacks Investment Research downgraded shares of Bicycle Therapeutics from a “buy” rating to a “sell” rating in a research report on Tuesday. Finally, Canaccord Genuity increased their target price on shares of Bicycle Therapeutics from $40.00 to $60.00 and gave the company a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Bicycle Therapeutics presently has an average rating of “Buy” and an average price target of $67.22.

Shares of BCYC opened at $56.38 on Thursday. Bicycle Therapeutics has a fifty-two week low of $17.68 and a fifty-two week high of $56.81. The firm’s 50 day moving average price is $38.74 and its 200 day moving average price is $33.55. The company has a quick ratio of 9.36, a current ratio of 9.36 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.44 billion, a P/E ratio of -19.99 and a beta of -0.42.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings data on Thursday, August 5th. The company reported ($0.74) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.71) by ($0.03). Bicycle Therapeutics had a negative net margin of 546.62% and a negative return on equity of 50.43%. The firm had revenue of $1.79 million during the quarter, compared to analysts’ expectations of $2.51 million. Research analysts forecast that Bicycle Therapeutics will post -2.82 earnings per share for the current year.

In other news, CFO Lee Kalowski sold 12,500 shares of Bicycle Therapeutics stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $31.51, for a total transaction of $393,875.00. Following the completion of the sale, the chief financial officer now directly owns 12,500 shares in the company, valued at $393,875. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin Lee sold 1,808 shares of Bicycle Therapeutics stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $36.02, for a total transaction of $65,124.16. Following the sale, the chief executive officer now owns 246,893 shares of the company’s stock, valued at $8,893,085.86. The disclosure for this sale can be found here. Insiders sold 51,474 shares of company stock valued at $1,859,850 in the last quarter. Company insiders own 17.90% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. lifted its position in Bicycle Therapeutics by 14.5% during the second quarter. Point72 Asset Management L.P. now owns 1,805,935 shares of the company’s stock valued at $54,828,000 after buying an additional 228,442 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Bicycle Therapeutics during the first quarter valued at approximately $50,654,000. Logos Global Management LP acquired a new position in Bicycle Therapeutics during the first quarter valued at approximately $23,896,000. FIL Ltd acquired a new position in Bicycle Therapeutics during the first quarter valued at approximately $15,628,000. Finally, Verition Fund Management LLC lifted its position in Bicycle Therapeutics by 609.7% during the first quarter. Verition Fund Management LLC now owns 240,134 shares of the company’s stock valued at $7,173,000 after buying an additional 206,300 shares in the last quarter. Institutional investors and hedge funds own 48.67% of the company’s stock.

Bicycle Therapeutics Company Profile

Bicycle Therapeutics Plc is a clinical-stage biopharmaceutical company, which engages in developing a novel class of medicines, which the company refers to as bicycles, for diseases that are underserved by existing therapeutics. The firm utilizes its novel and proprietary phage display screening platform to identify bicycles.

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