Citizens Jmp Forecasts Strong Price Appreciation for Bicycle Therapeutics (NASDAQ:BCYC) Stock

Bicycle Therapeutics (NASDAQ:BCYC) had its price target increased by Citizens Jmp from $10.00 to $12.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price objective indicates a potential upside of 48.70% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Bicycle Therapeutics from $17.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 12th. JMP Securities set a $12.00 price target on shares of Bicycle Therapeutics in a report on Friday. Royal Bank Of Canada reiterated a “sector perform” rating and set a $11.00 price target (down from $27.00) on shares of Bicycle Therapeutics in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bicycle Therapeutics in a research note on Tuesday, October 14th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $44.00 target price (down previously from $48.00) on shares of Bicycle Therapeutics in a research note on Monday, August 11th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.80.

Bicycle Therapeutics Price Performance

Shares of NASDAQ BCYC opened at $8.07 on Friday. The business’s 50 day moving average is $7.66 and its two-hundred day moving average is $7.87. Bicycle Therapeutics has a 1-year low of $6.10 and a 1-year high of $25.39. The stock has a market capitalization of $559.33 million, a P/E ratio of -2.23 and a beta of 1.47.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Friday, August 8th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($0.19). The company had revenue of $2.90 million for the quarter, compared to the consensus estimate of $9.43 million. Bicycle Therapeutics had a negative net margin of 884.51% and a negative return on equity of 34.63%. As a group, equities research analysts anticipate that Bicycle Therapeutics will post -3.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kevin Lee sold 3,231 shares of the stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $8.41, for a total value of $27,172.71. Following the transaction, the chief executive officer owned 475,310 shares of the company’s stock, valued at $3,997,357.10. This represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 8,527 shares of company stock valued at $71,738. 22.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Bicycle Therapeutics by 55.3% during the 1st quarter. Principal Financial Group Inc. now owns 631,260 shares of the company’s stock worth $5,359,000 after buying an additional 224,790 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Bicycle Therapeutics during the 1st quarter worth $113,000. Jefferies Financial Group Inc. bought a new position in shares of Bicycle Therapeutics during the 1st quarter worth $3,471,000. Westfield Capital Management Co. LP grew its position in shares of Bicycle Therapeutics by 1.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 2,657,305 shares of the company’s stock worth $22,561,000 after buying an additional 46,968 shares in the last quarter. Finally, Tocqueville Asset Management L.P. grew its holdings in Bicycle Therapeutics by 24.5% during the 1st quarter. Tocqueville Asset Management L.P. now owns 18,300 shares of the company’s stock worth $155,000 after acquiring an additional 3,600 shares in the last quarter. Institutional investors 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.