Bicycle Therapeutics' (BCYC) "Outperform" Rating Reaffirmed at Oppenheimer

Key Points

• Oppenheimer has lowered its price target for Bicycle Therapeutics (NASDAQ:BCYC) from $48.00 to $44.00, while maintaining an "outperform" rating, indicating a potential upside of 485.89% from the current stock price.
• The company recently reported disappointing quarterly earnings, posting an EPS of ($1.14), which missed analyst expectations by ($0.19).
• Several other analysts have set varied price targets for Bicycle Therapeutics, with an average consensus target price of $23.78 and mostly positive ratings from multiple research firms.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report)'s stock had its "outperform" rating reissued by Oppenheimer in a note issued to investors on Monday, MarketBeat Ratings reports. They presently have a $44.00 target price on the stock, down from their prior target price of $48.00. Oppenheimer's price objective points to a potential upside of 483.55% from the company's current price.

Several other research firms also recently weighed in on BCYC. B. Riley reduced their target price on shares of Bicycle Therapeutics from $17.00 to $14.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Barclays lowered their price objective on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Royal Bank Of Canada lowered their price target on shares of Bicycle Therapeutics from $32.00 to $25.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. Needham & Company LLC reissued a "buy" rating and set a $29.00 price objective on shares of Bicycle Therapeutics in a research report on Friday, May 2nd. Finally, JMP Securities dropped their price objective on shares of Bicycle Therapeutics from $26.00 to $22.00 and set a "market outperform" rating on the stock in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Bicycle Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $22.22.

Bicycle Therapeutics Stock Performance

Shares of BCYC stock traded up $0.16 during midday trading on Monday, hitting $7.54. 113,037 shares of the company were exchanged, compared to its average volume of 323,201. The firm has a market capitalization of $522.15 million, a P/E ratio of -2.14 and a beta of 1.44. Bicycle Therapeutics has a 52 week low of $6.10 and a 52 week high of $28.67. The firm's 50 day moving average price is $7.87 and its two-hundred day moving average price is $8.87.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $2.90 million during the quarter, compared to analyst estimates of $9.43 million. Bicycle Therapeutics had a negative net margin of 1,257.00% and a negative return on equity of 32.43%. Analysts expect that Bicycle Therapeutics will post -3.06 EPS for the current year.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in 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 in the last quarter. Baker BROS. Advisors LP grew its holdings in Bicycle Therapeutics by 15.8% in the fourth quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company's stock valued at $152,395,000 after purchasing an additional 1,485,397 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Bicycle Therapeutics by 90.3% during the first quarter. Exchange Traded Concepts LLC now owns 12,764 shares of the company's stock valued at $108,000 after acquiring an additional 6,057 shares during the last quarter. Fcpm Iii Services B.V. boosted its stake in shares of Bicycle Therapeutics by 47.5% during the fourth quarter. Fcpm Iii Services B.V. now owns 3,452,330 shares of the company's stock valued at $48,333,000 after acquiring an additional 1,112,369 shares during the last quarter. Finally, Nan Fung Group Holdings Ltd boosted its stake in shares of Bicycle Therapeutics by 118.3% during the fourth quarter. Nan Fung Group Holdings Ltd now owns 68,943 shares of the company's stock valued at $965,000 after acquiring an additional 37,358 shares during the last quarter. Hedge funds and other institutional investors own 86.15% of the company's stock.

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.