Leerink Partnrs Issues Optimistic Estimate for BCYC Earnings

Bicycle Therapeutics plc (NASDAQ:BCYC) – Equities research analysts at Leerink Partnrs lifted their FY2024 EPS estimates for shares of Bicycle Therapeutics in a research note issued on Monday, January 13th. Leerink Partnrs analyst J. Chang now anticipates that the company will earn ($3.01) per share for the year, up from their previous forecast of ($3.03). The consensus estimate for Bicycle Therapeutics’ current full-year earnings is ($3.05) per share. Leerink Partnrs also issued estimates for Bicycle Therapeutics’ Q4 2024 earnings at ($0.83) EPS, Q1 2025 earnings at ($0.84) EPS, Q2 2025 earnings at ($0.86) EPS, Q3 2025 earnings at ($0.86) EPS, Q4 2025 earnings at ($0.87) EPS and FY2025 earnings at ($3.43) EPS.

Bicycle Therapeutics (NASDAQ:BCYC) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.04. The business had revenue of $2.68 million during the quarter, compared to the consensus estimate of $6.82 million. Bicycle Therapeutics had a negative net margin of 450.64% and a negative return on equity of 27.35%. The company’s quarterly revenue was down 50.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.26) earnings per share.

A number of other analysts have also weighed in on BCYC. Royal Bank of Canada restated an “outperform” rating and set a $35.00 target price on shares of Bicycle Therapeutics in a research note on Friday, November 1st. Stephens assumed coverage on shares of Bicycle Therapeutics in a report on Friday, November 8th. They issued an “equal weight” rating and a $25.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $33.00 price objective on shares of Bicycle Therapeutics in a research report on Monday, January 13th. Needham & Company LLC reissued a “buy” rating and issued a $32.00 target price on shares of Bicycle Therapeutics in a report on Monday, January 13th. Finally, B. Riley cut their price target on Bicycle Therapeutics from $28.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Bicycle Therapeutics Price Performance

BCYC opened at $13.34 on Thursday. The business has a fifty day moving average price of $17.54 and a 200 day moving average price of $21.46. Bicycle Therapeutics has a 12 month low of $12.17 and a 12 month high of $28.67. The stock has a market capitalization of $921.13 million, a price-to-earnings ratio of -4.05 and a beta of 0.92.

Hedge Funds Weigh In On Bicycle Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of BCYC. Renaissance Technologies LLC lifted its stake in shares of Bicycle Therapeutics by 97.2% in the 2nd quarter. Renaissance Technologies LLC now owns 326,800 shares of the company’s stock worth $6,614,000 after acquiring an additional 161,100 shares during the period. L & S Advisors Inc boosted its holdings in Bicycle Therapeutics by 16.1% in the 2nd quarter. L & S Advisors Inc now owns 58,335 shares of the company’s stock valued at $1,181,000 after purchasing an additional 8,075 shares in the last quarter. XTX Topco Ltd acquired a new position in Bicycle Therapeutics during the 2nd quarter worth approximately $206,000. Avoro Capital Advisors LLC purchased a new position in shares of Bicycle Therapeutics during the 2nd quarter worth approximately $14,168,000. Finally, Marshall Wace LLP acquired a new stake in shares of Bicycle Therapeutics in the 2nd quarter valued at approximately $1,801,000. 86.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Travis Alvin Thompson sold 6,256 shares of Bicycle Therapeutics stock in a transaction on Monday, November 11th. The shares were sold at an average price of $25.11, for a total value of $157,088.16. Following the transaction, the chief accounting officer now directly owns 19,241 shares of the company’s stock, valued at $483,141.51. The trade was a 24.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Alistair Milnes sold 4,578 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $14.09, for a total transaction of $64,504.02. Following the sale, the chief operating officer now owns 100,724 shares of the company’s stock, valued at approximately $1,419,201.16. This represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,933 shares of company stock valued at $549,501. 8.50% of the stock is currently owned by insiders.

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.