Morgan Stanley Lowers Bicycle Therapeutics (NASDAQ:BCYC) Price Target to $13.00

Key Points

• Morgan Stanley has reduced its price target for Bicycle Therapeutics (NASDAQ:BCYC) from $17.00 to $13.00, suggesting a potential upside of 74.26% from the previous close.
• The stock has experienced a decline of 2.5% and currently trades at around $7.46, with a market capitalization of $516.61 million.
• Bicycle Therapeutics had a disappointing earnings report, missing consensus estimates with a reported earnings per share of ($1.14) and revenue of $2.90 million versus $9.43 million expected.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) had its target price decreased by investment analysts at Morgan Stanley from $17.00 to $13.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's target price would indicate a potential upside of 74.73% from the stock's current price.

Several other brokerages have also recently issued reports on BCYC. Needham & Company LLC reiterated a "buy" rating and issued a $29.00 price objective on shares of Bicycle Therapeutics in a research note on Friday, May 2nd. Oppenheimer reiterated an "outperform" rating and issued a $44.00 price objective (down previously from $48.00) on shares of Bicycle Therapeutics in a research note on Monday. B. Riley decreased their price objective on Bicycle Therapeutics from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. JMP Securities decreased their target price on 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. Finally, Barclays decreased their target price on Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Bicycle Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $22.22.

Bicycle Therapeutics Stock Up 0.8%

Shares of BCYC stock traded up $0.06 on Tuesday, hitting $7.44. The stock had a trading volume of 259,271 shares, compared to its average volume of 307,205. The business has a 50 day moving average price of $7.85 and a 200 day moving average price of $8.83. The company has a market cap of $515.22 million, a PE ratio of -2.12 and a beta of 1.44. Bicycle Therapeutics has a one year low of $6.10 and a one year high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.19). Bicycle Therapeutics had a negative net margin of 1,257.00% and a negative return on equity of 32.43%. The company had revenue of $2.90 million for the quarter, compared to analyst estimates of $9.43 million. Equities research analysts expect that Bicycle Therapeutics will post -3.06 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State of Tennessee Department of Treasury purchased a new stake in shares of Bicycle Therapeutics in the second quarter valued at $100,000. Soleus Capital Management L.P. bought a new position in Bicycle Therapeutics during the 2nd quarter worth approximately $695,000. Monimus Capital Management LP bought a new stake in shares of Bicycle Therapeutics in the 2nd quarter worth approximately $592,000. Rangeley Capital LLC bought a new stake in Bicycle Therapeutics during the 2nd quarter valued at $521,000. Finally, Moore Capital Management LP increased its position in shares of Bicycle Therapeutics by 50.0% during the 2nd quarter. Moore Capital Management LP now owns 75,000 shares of the company's stock valued at $521,000 after purchasing an additional 25,000 shares during the period. Institutional investors and hedge funds own 86.15% of the company's stock.

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.