Citizens JMP analyst Reni Benjamin raised the firm’s price target on Bicycle Therapeutics (BCYC) to $12 from $10 and keeps an Outperform rating on the shares. Bicycle reported Q3 financial results and updated corporate milestones, including regulatory feedback regarding dose selection for the pivotal Duravelo-2 now expected in 1Q26, the analyst tells investors in a research note. Bicycle shares have upside from current levels, with the zele pivotal trial enrolling, multiple partnerships secured, and a strong cash position of $648.3M, the firm says.
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