Bicycle Therapeutics (NASDAQ:BCYC) Given Overweight Rating at Cantor Fitzgerald

Bicycle Therapeutics (NASDAQ:BCYCGet Rating)‘s stock had its “overweight” rating reissued by stock analysts at Cantor Fitzgerald in a report issued on Wednesday, PriceTargets.com reports. Cantor Fitzgerald also issued estimates for Bicycle Therapeutics’ FY2022 earnings at ($3.52) EPS and FY2023 earnings at ($4.22) EPS.

A number of other research firms have also commented on BCYC. Cowen began coverage on Bicycle Therapeutics in a report on Wednesday, August 31st. They issued an “outperform” rating for the company. SVB Leerink lifted their target price on Bicycle Therapeutics from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, August 22nd. Barclays began coverage on Bicycle Therapeutics in a report on Thursday, July 28th. They issued an “overweight” rating and a $30.00 target price for the company. Morgan Stanley reduced their target price on Bicycle Therapeutics from $60.00 to $45.00 and set an “equal weight” rating for the company in a report on Monday, September 12th. Finally, JMP Securities reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, September 8th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.92.

Bicycle Therapeutics Stock Down 1.3 %

Shares of NASDAQ:BCYC opened at $24.11 on Wednesday. The stock has a fifty day simple moving average of $24.58 and a two-hundred day simple moving average of $25.01. The stock has a market capitalization of $715.49 million, a price-to-earnings ratio of -7.90 and a beta of 0.71. Bicycle Therapeutics has a 12-month low of $12.08 and a 12-month high of $62.08. The company has a current ratio of 9.88, a quick ratio of 9.88 and a debt-to-equity ratio of 0.10.

Bicycle Therapeutics (NASDAQ:BCYCGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.05). Bicycle Therapeutics had a negative net margin of 533.03% and a negative return on equity of 30.07%. On average, research analysts anticipate that Bicycle Therapeutics will post -3.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bicycle Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Verition Fund Management LLC raised its position in Bicycle Therapeutics by 197.3% during the second quarter. Verition Fund Management LLC now owns 399,023 shares of the company’s stock valued at $6,696,000 after purchasing an additional 264,819 shares during the period. ExodusPoint Capital Management LP bought a new position in shares of Bicycle Therapeutics during the second quarter valued at approximately $3,056,000. Pura Vida Investments LLC bought a new position in shares of Bicycle Therapeutics during the second quarter valued at approximately $3,073,000. DAFNA Capital Management LLC grew its stake in Bicycle Therapeutics by 146.6% in the second quarter. DAFNA Capital Management LLC now owns 131,200 shares of the company’s stock worth $2,202,000 after purchasing an additional 78,000 shares in the last quarter. Finally, State Street Corp grew its stake in Bicycle Therapeutics by 63.5% in the second quarter. State Street Corp now owns 17,474 shares of the company’s stock worth $293,000 after purchasing an additional 6,787 shares in the last quarter. 76.45% of the stock is currently owned by hedge funds and other institutional investors.

Bicycle Therapeutics Company Profile

(Get Rating)

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics. Its lead product candidate is BT1718, a bicycle toxin conjugate (BTC), which is in Phase I/IIa clinical trials targeting tumors that express Membrane Type 1 matrix metalloprotease.

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Analyst Recommendations for Bicycle Therapeutics (NASDAQ:BCYC)

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