Bicycle Therapeutics Limited (NASDAQ:BCYC) Receives $19.00 Consensus Target Price from Analysts

Bicycle Therapeutics Limited (NASDAQ:BCYC) has received a consensus rating of “Buy” from the six research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $19.00.

A number of brokerages have weighed in on BCYC. Goldman Sachs Group raised Bicycle Therapeutics from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, September 11th. Zacks Investment Research downgraded Bicycle Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday. Canaccord Genuity set a $22.00 price target on Bicycle Therapeutics and gave the stock a “buy” rating in a research report on Monday, September 30th. Finally, Roth Capital began coverage on Bicycle Therapeutics in a research report on Thursday. They set a “buy” rating and a $17.00 price target on the stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Monashee Investment Management LLC acquired a new position in Bicycle Therapeutics during the second quarter worth approximately $532,000. Pentwater Capital Management LP acquired a new position in Bicycle Therapeutics during the second quarter worth approximately $642,000. Laurion Capital Management LP acquired a new position in Bicycle Therapeutics during the second quarter worth approximately $1,006,000. Victory Capital Management Inc. acquired a new position in Bicycle Therapeutics during the second quarter worth approximately $1,403,000. Finally, Atlas Venture Advisors Inc. acquired a new position in Bicycle Therapeutics during the second quarter worth approximately $13,709,000. 37.22% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Bicycle Therapeutics stock traded up $0.03 during trading on Thursday, reaching $9.39. 9,300 shares of the company were exchanged, compared to its average volume of 7,878. Bicycle Therapeutics has a twelve month low of $6.24 and a twelve month high of $14.91. The business’s 50-day simple moving average is $9.82.

Bicycle Therapeutics (NASDAQ:BCYC) last released its earnings results on Thursday, November 7th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.05. Bicycle Therapeutics had a negative return on equity of 238.49% and a negative net margin of 342.94%. The business had revenue of $0.61 million for the quarter, compared to analyst estimates of $1.00 million. As a group, research analysts predict that Bicycle Therapeutics will post -3.18 earnings per share for the current fiscal year.

About Bicycle Therapeutics

Bicycle Therapeutics Limited, 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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