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 reiterated by equities research analysts at Oppenheimer in a note issued to investors on Monday, Marketbeat.com reports. They currently have a $44.00 price target on the stock, down from their previous price target of $48.00. Oppenheimer's target price indicates a potential upside of 496.21% from the stock's current price.

BCYC has been the subject of several other research reports. JMP Securities lowered their price target on shares of Bicycle Therapeutics from $26.00 to $22.00 and set a "market outperform" rating for the company in a report on Friday, May 2nd. Morgan Stanley set a $17.00 price target on shares of Bicycle Therapeutics and gave the company an "equal weight" rating in a research note on Monday, May 5th. Royal Bank Of Canada cut their price objective on shares of Bicycle Therapeutics from $32.00 to $25.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. B. Riley reduced their price target on shares of Bicycle Therapeutics from $17.00 to $14.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $29.00 target price on shares of Bicycle Therapeutics in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.22.

Bicycle Therapeutics Trading Up 0.4%

NASDAQ:BCYC traded up $0.03 during mid-day trading on Monday, hitting $7.38. 543,734 shares of the company's stock were exchanged, compared to its average volume of 324,598. The company has a 50 day simple moving average of $7.90 and a 200-day simple moving average of $8.91. Bicycle Therapeutics has a fifty-two week low of $6.10 and a fifty-two week high of $28.67. The firm has a market capitalization of $511.07 million, a P/E ratio of -2.10 and a beta of 1.44.

Bicycle Therapeutics (NASDAQ:BCYC - Get Free Report) last released 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). Bicycle Therapeutics had a negative return on equity of 32.43% and a negative net margin of 1,257.00%. The firm had revenue of $2.90 million for the quarter, compared to the consensus estimate of $9.43 million. As a group, analysts expect that Bicycle Therapeutics will post -3.06 earnings per share for the current year.

Institutional Investors Weigh In On Bicycle Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in Bicycle Therapeutics by 878.3% during the fourth quarter. Barclays PLC now owns 2,612 shares of the company's stock valued at $37,000 after purchasing an additional 2,345 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Bicycle Therapeutics by 879.5% during the first quarter. GAMMA Investing LLC now owns 8,982 shares of the company's stock valued at $76,000 after purchasing an additional 8,065 shares during the last quarter. Sei Investments Co. purchased a new stake in Bicycle Therapeutics during the second quarter valued at about $74,000. Virtus Investment Advisers LLC lifted its holdings in Bicycle Therapeutics by 32.6% during the second quarter. Virtus Investment Advisers LLC now owns 10,821 shares of the company's stock valued at $75,000 after purchasing an additional 2,659 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in 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 purchasing an additional 6,057 shares during 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.