JMP Securities Cuts Bicycle Therapeutics (NASDAQ:BCYC) Price Target to $22.00

Bicycle Therapeutics (NASDAQ:BCYC) had its price target trimmed by JMP Securities from $26.00 to $22.00 in a report issued on Friday morning,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other brokerages have also recently issued reports on BCYC. Needham & Company LLC reissued a “buy” rating and set a $29.00 price objective on shares of Bicycle Therapeutics in a report on Friday. HC Wainwright reissued a “buy” rating and set a $33.00 price target on shares of Bicycle Therapeutics in a report on Wednesday, February 26th. Barclays decreased their price objective on shares of Bicycle Therapeutics from $40.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Stephens reaffirmed an “equal weight” rating and set a $15.00 price objective on shares of Bicycle Therapeutics in a report on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.00.

Bicycle Therapeutics Stock Performance

NASDAQ:BCYC opened at $9.30 on Friday. The firm’s 50-day moving average is $8.71 and its 200-day moving average is $14.30. The company has a market cap of $643.58 million, a price-to-earnings ratio of -2.83 and a beta of 1.60. Bicycle Therapeutics has a 52-week low of $6.10 and a 52-week high of $28.67.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.02). The business had revenue of $9.98 million during the quarter, compared to the consensus estimate of $8.67 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. Equities analysts predict that Bicycle Therapeutics will post -3.06 EPS for the current year.

Hedge Funds Weigh In On Bicycle Therapeutics

Institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. increased its holdings in shares of Bicycle Therapeutics by 406.2% in the fourth quarter. Point72 Asset Management L.P. now owns 4,554,900 shares of the company’s stock valued at $63,769,000 after purchasing an additional 3,655,101 shares in the last quarter. Baker BROS. Advisors LP boosted its position in Bicycle Therapeutics by 15.8% in the 4th quarter. Baker BROS. Advisors LP now owns 10,885,357 shares of the company’s stock valued at $152,395,000 after buying an additional 1,485,397 shares during the last quarter. Fcpm Iii Services B.V. lifted 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 period. Long Focus Capital Management LLC bought a new position in Bicycle Therapeutics in the fourth quarter valued at about $7,603,000. Finally, Principal Financial Group Inc. acquired a new stake in Bicycle Therapeutics in the third quarter worth about $10,028,000. 86.15% of the stock is owned by institutional investors.

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.