JMP Securities Lowers Bicycle Therapeutics (NASDAQ:BCYC) Price Target to $10.00

Key Points

• JMP Securities has lowered the price target for Bicycle Therapeutics from $22.00 to $10.00, indicating a potential upside of 34.05% from the previous close.
• Despite the downgrade, the company maintains a "market outperform" rating, with other analysts offering varied price targets, including a $29.00 target from Needham & Company.
• Bicycle Therapeutics reported a quarterly earnings miss, with an EPS of ($1.14) compared to analysts' expectations of ($0.95), alongside a revenue of only $2.90 million against estimated $9.43 million.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) had its target price lowered by stock analysts at JMP Securities from $22.00 to $10.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. JMP Securities' price target indicates a potential upside of 34.05% from the company's previous close.

Several other research analysts have also issued reports on the company. Needham & Company LLC reiterated a "buy" rating and issued a $29.00 price target on shares of Bicycle Therapeutics in a report on Friday, May 2nd. Oppenheimer reaffirmed an "outperform" rating and set a $44.00 price target (down from $48.00) on shares of Bicycle Therapeutics in a research report on Monday. B. Riley decreased their price target on Bicycle Therapeutics from $17.00 to $14.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Morgan Stanley decreased their price target on Bicycle Therapeutics from $17.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday. Finally, Royal Bank Of Canada set a $27.00 target price on Bicycle Therapeutics and gave the stock an "outperform" rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.22.

Bicycle Therapeutics Price Performance

Shares of NASDAQ BCYC opened at $7.46 on Tuesday. The stock has a market capitalization of $516.61 million, a PE ratio of -2.13 and a beta of 1.44. The business has a fifty day moving average price of $7.94 and a two-hundred day moving average price of $8.93. Bicycle Therapeutics has a fifty-two week low of $6.10 and a fifty-two week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported ($1.14) EPS for the quarter, missing analysts' consensus estimates of ($0.95) by ($0.19). Bicycle Therapeutics had a negative return on equity of 31.20% and a negative net margin of 1,257.00%. The business had revenue of $2.90 million for the quarter, compared to analyst estimates of $9.43 million. On average, equities analysts expect that Bicycle Therapeutics will post -3.06 EPS for the current year.

Hedge Funds Weigh In On Bicycle Therapeutics

Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in shares of Bicycle Therapeutics by 55.3% in the first quarter. Principal Financial Group Inc. now owns 631,260 shares of the company's stock worth $5,359,000 after acquiring an additional 224,790 shares during the period. Baker BROS. Advisors LP boosted its holdings in shares of Bicycle Therapeutics by 15.8% in the fourth quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company's stock worth $152,395,000 after acquiring an additional 1,485,397 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Bicycle Therapeutics by 90.3% in the first quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company's stock worth $108,000 after acquiring an additional 6,057 shares during the period. Fcpm Iii Services B.V. boosted its holdings in shares of Bicycle Therapeutics by 47.5% in the fourth quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company's stock worth $48,333,000 after acquiring an additional 1,112,369 shares during the period. Finally, Nan Fung Group Holdings Ltd boosted its holdings in shares of Bicycle Therapeutics by 118.3% in the fourth quarter. Nan Fung Group Holdings Ltd now owns 68,943 shares of the company's stock worth $965,000 after acquiring an additional 37,358 shares during the period. 86.15% of the stock is owned by 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.

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