Bicycle Therapeutics (BCYC) Received its Third Buy in a Row

After Needham and Leerink Partners gave Bicycle Therapeutics (NASDAQ: BCYC) a Buy rating last month, the company received another Buy, this time from JMP Securities. Analyst Reni Benjamin reiterated a Buy rating on Bicycle Therapeutics today and set a price target of $85.00. The company’s shares closed last Wednesday at $53.76.

According to TipRanks.com, Benjamin is ranked 0 out of 5 stars with an average return of -8.3% and a 35.3% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Deciphera Pharmaceuticals, Spectrum Pharmaceuticals, and Iovance Biotherapeutics.

Bicycle Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $71.44, which is a 28.7% upside from current levels. In a report released yesterday, Needham also maintained a Buy rating on the stock with a $85.00 price target.

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The company has a one-year high of $62.08 and a one-year low of $17.95. Currently, Bicycle Therapeutics has an average volume of 346.5K.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BCYC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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