Bicycle Therapeutics initiated with a Buy at EF Hutton

EF Hutton analyst Tony Butler initiated coverage of Bicycle Therapeutics with a Buy rating and $55 price target. Bicycle is developing bicycles – synthetic, low molecular weight short peptides that are constrained to form two loops that stabilize the peptides and facilitate binding to a target with high affinity and selectivity, Butler tells investors in a research note. The analyst says the company’s approach is applicable to a multitude of disease areas as evident by its partnerships.