In a report released today, Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on Bicycle Therapeutics (BCYC – Research Report), with a price target of $55.00.
Swayampakula Ramakanth’s rating is based on a thorough evaluation of Bicycle Therapeutics’ recent financial performance and promising clinical trial prospects. The company’s first quarter report significantly surpassed consensus estimates, with revenues reaching $19.5 million against an anticipated $6.1 million, and a net loss per share that was less than half of forecasts. This financial stability is further bolstered by their substantial cash reserves, which are predicted to sustain their operations without the immediate need for additional funding.
Furthermore, the anticipation of new data from the Duravelo-1 study in the second half of 2024 adds to the optimism, as it could unveil the therapeutic efficacy of BT8009 in metastatic urothelial cancer. Updates on BT5528 and BT7480 are also on the horizon and could influence strategies for treating other solid tumors. Ramakanth’s Buy rating is reinforced by a valuation based on a risk-adjusted net present value analysis, setting a 12-month price target that reflects the potential of Bicycle Therapeutics’ pipeline and financial health.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $32.00 price target.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BCYC in relation to earlier this year.
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Bicycle Therapeutics (BCYC) Company Description:
Bicycle Therapeutics Plc is a holding company, which engages in the development of biopharmaceuticals. It focuses on developing a novel class of medicines, which the company refers to as bicycles, for diseases that are underserved by existing therapeutics. The firm utilizes its novel and proprietary phage display screening platform to identify bicycles. Its portfolio includes internal product candidates that are directed to oncology applications. The company was founded by Gregory Winter, John Tite, and Christian Heinis in 2009 and is headquartered in Cambridge, the United Kingdom.
