In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on Bicycle Therapeutics (BCYC – Research Report), with a price target of $65.00. The company’s shares closed last Tuesday at $47.30.
According to TipRanks.com, Ramakanth is a 4-star analyst with an average return of 11.0% and a 39.6% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Cellectar Biosciences, Harpoon Therapeutics, and Corcept Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Bicycle Therapeutics with a $72.86 average price target, a 57.7% upside from current levels. In a report issued on February 25, Needham also maintained a Buy rating on the stock with a $85.00 price target.
Based on Bicycle Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $4.33 million and GAAP net loss of $14.68 million. In comparison, last year the company earned revenue of $3.84 million and had a GAAP net loss of $10.14 million.
Based on the recent corporate insider activity of 43 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.
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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.
Read More on BCYC:
- Needham Maintains a Buy Rating on Bicycle Therapeutics (BCYC)
- Wedbush Reiterates Their Buy Rating on Albireo Pharma (ALBO)
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- H.C. Wainwright Reaffirms Their Buy Rating on Akebia Therapeutics (AKBA)
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