Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Bicycle Therapeutics PLC Sponsored ADR (NASDAQ:BCYC - Get Free Report) has been given an average rating of "Moderate Buy" by the ten brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $25.00.

BCYC has been the topic of a number of recent analyst reports. Royal Bank Of Canada lowered their target price on shares of Bicycle Therapeutics from $35.00 to $32.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. JMP Securities lowered their target price on shares of Bicycle Therapeutics from $26.00 to $22.00 and set a "market outperform" rating on the stock in a research note on Friday, May 2nd. Barclays lowered their target price on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $29.00 target price on shares of Bicycle Therapeutics in a research note on Friday, May 2nd. Finally, Morgan Stanley set a $17.00 price target on shares of Bicycle Therapeutics and gave the stock an "equal weight" rating in a research note on Monday, May 5th.

Bicycle Therapeutics Trading Down 3.5%

Shares of BCYC stock traded down $0.26 during trading hours on Friday, reaching $7.17. The stock had a trading volume of 220,633 shares, compared to its average volume of 396,212. The stock's fifty day simple moving average is $8.05 and its 200 day simple moving average is $9.99. Bicycle Therapeutics has a 12 month low of $6.10 and a 12 month high of $28.67. The firm has a market capitalization of $496.52 million, a PE ratio of -2.28 and a beta of 1.41.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.88) EPS for the quarter, missing analysts' consensus estimates of ($0.86) by ($0.02). The firm had revenue of $9.98 million during the quarter, compared to the consensus estimate of $8.67 million. Bicycle Therapeutics had a negative net margin of 790.07% and a negative return on equity of 25.54%. As a group, equities research analysts anticipate that Bicycle Therapeutics will post -3.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. purchased a new position in shares of Bicycle Therapeutics in the first quarter worth $214,000. Acadian Asset Management LLC purchased a new position in shares of Bicycle Therapeutics in the first quarter worth $1,065,000. Woodline Partners LP purchased a new position in shares of Bicycle Therapeutics in the first quarter worth $3,088,000. Millennium Management LLC boosted its holdings in Bicycle Therapeutics by 156.5% in the first quarter. Millennium Management LLC now owns 453,428 shares of the company's stock valued at $3,850,000 after acquiring an additional 276,671 shares in the last quarter. Finally, Armistice Capital LLC boosted its holdings in Bicycle Therapeutics by 21.7% in the first quarter. Armistice Capital LLC now owns 2,672,000 shares of the company's stock valued at $22,685,000 after acquiring an additional 476,000 shares in the last quarter. 86.15% of the stock is owned by hedge funds and other institutional investors.

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.