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Zacks Investment Research Upgrades Bicycle Therapeutics (NASDAQ:BCYC) to Hold

Zacks Investment Research upgraded shares of Bicycle Therapeutics (NASDAQ:BCYC) from a sell rating to a hold rating in a report released on Friday, Zacks.com reports.

According to Zacks, “Bicycle Therapeutics plc is a clinical-stage biopharmaceutical company. It is focused on developing medicines, referred to as Bicycles(R) for diseases which are underserved by existing therapeutics. Bicycle Therapeutics plc is based in Cambridge, United Kingdom. “

A number of other research firms have also issued reports on BCYC. Oppenheimer restated a buy rating and issued a $27.00 price target on shares of Bicycle Therapeutics in a research report on Tuesday, September 22nd. HC Wainwright reiterated a buy rating and issued a $25.00 price objective on shares of Bicycle Therapeutics in a report on Thursday, August 6th. Cantor Fitzgerald assumed coverage on Bicycle Therapeutics in a research note on Monday, October 12th. They set an overweight rating and a $30.00 price target on the stock. BidaskClub upgraded Bicycle Therapeutics from a hold rating to a buy rating in a research note on Saturday, October 31st. Finally, Canaccord Genuity upped their price target on Bicycle Therapeutics from $23.50 to $25.00 and gave the stock a buy rating in a research note on Thursday, September 10th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Bicycle Therapeutics has an average rating of Buy and an average target price of $23.67.

NASDAQ:BCYC opened at $18.49 on Friday. Bicycle Therapeutics has a 12 month low of $7.50 and a 12 month high of $21.59. The stock has a 50 day moving average of $19.15 and a two-hundred day moving average of $17.07. The firm has a market cap of $327.27 million, a P/E ratio of -8.93 and a beta of -0.35.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.52) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.52). Bicycle Therapeutics had a negative return on equity of 43.74% and a negative net margin of 434.29%. Analysts anticipate that Bicycle Therapeutics will post -2.49 earnings per share for the current year.

A number of large investors have recently made changes to their positions in BCYC. Morgan Stanley lifted its position in shares of Bicycle Therapeutics by 32,450.0% during the 1st quarter. Morgan Stanley now owns 3,255 shares of the company’s stock valued at $44,000 after acquiring an additional 3,245 shares during the period. UBS Group AG purchased a new position in shares of Bicycle Therapeutics during the 2nd quarter worth approximately $36,000. FMR LLC purchased a new position in shares of Bicycle Therapeutics during the 2nd quarter worth approximately $3,277,000. Advisor Group Holdings Inc. increased its stake in shares of Bicycle Therapeutics by 34,000.0% during the 2nd quarter. Advisor Group Holdings Inc. now owns 34,100 shares of the company’s stock worth $537,000 after purchasing an additional 34,000 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Bicycle Therapeutics by 8.5% during the 3rd quarter. California Public Employees Retirement System now owns 20,345 shares of the company’s stock worth $388,000 after purchasing an additional 1,600 shares in the last quarter. Hedge funds and other institutional investors own 35.54% of the company’s stock.

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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