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Bicycle Therapeutics
(NASDAQ:BCYC)
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Rating:47Neutral
Price Target:
$4.00
▼(-8.26% Downside)
Action:Reiterated
Date:10/06/26
BCYC scores below average primarily due to persistent losses and substantial ongoing cash burn, with recent TTM revenue weakness adding risk. The strongest offset is a low-leverage balance sheet that improves financial flexibility. Technically, indicators are mostly neutral (some short-term strength but weaker longer-term trend), and valuation remains constrained by negative earnings and no dividend support.
Positive Factors
Low Leverage
Very low leverage limits refinancing pressure and preserves financial flexibility while Bicycle advances its pipeline. The small debt burden may allow more capital to remain available for research and development, although continued losses still reduce the durability of that flexibility.
Negative Factors
Persistent Deep Losses
Persistent deep losses show that the current cost base remains far ahead of revenue generation, leaving Bicycle without demonstrated profitability. Unless revenue scales materially or expenses improve, ongoing losses can erode equity and constrain the company’s ability to fund its pipeline internally.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Very low leverage limits refinancing pressure and preserves financial flexibility while Bicycle advances its pipeline. The small debt burden may allow more capital to remain available for research and development, although continued losses still reduce the durability of that flexibility.
Read all positive factors
Bicycle Therapeutics (BCYC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$271.58M
Dividend YieldN/A
Average Volume (3M)473.23K
Price to Earnings (P/E)―
Beta (1Y)1.85
Revenue Growth215.59%
EPS Growth22.48%
CountryUS
Employees288
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-2.73
Shares Outstanding50,554,928
10 Day Avg. Volume563,603
30 Day Avg. Volume473,232
Financial Highlights & Ratios
PEG Ratio-0.26
Price to Book (P/B)0.80
Price to Sales (P/S)6.76
P/FCF Ratio-1.94
Enterprise Value/Market Cap-0.73
Enterprise Value/Revenue-3.25
Enterprise Value/Gross Profit-3.25
Enterprise Value/Ebitda1.09
Forecast
1Y Price Target
$9.25Price Target Upside112.16% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering6
EPS Forecast (FY)-2.42
Revenue Forecast (FY)$18.08M
Bicycle Therapeutics Business Overview & Revenue Model
Company Description
Bicycle Therapeutics plc, founded in 2009 and based in Cambridge, UK, is a clinical-stage biopharmaceutical company. Its core mission is to create innovative therapeutic classes for diseases currently lacking effective treatments. The company's le...
How the Company Makes Money
Bicycle Therapeutics makes money primarily through (1) collaboration and partnership revenue and (2) potential future product commercialization, with current-period revenue largely tied to partnered programs rather than product sales. Collaboratio...
Bicycle Therapeutics Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
74
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 61.20M | 72.59M | 35.27M | 26.98M | 14.46M | 11.70M |
| Gross Profit | 61.20M | 72.59M | -137.69M | -129.52M | 14.46M | 11.70M |
| EBITDA | -183.20M | -212.18M | -164.89M | -169.40M | -107.21M | -64.09M |
| Net Income | -190.41M | -218.96M | -169.03M | -180.66M | -112.72M | -66.82M |
Balance Sheet | ||||||
| Total Assets | 606.58M | 717.60M | 956.87M | 595.34M | 410.61M | 479.79M |
| Cash, Cash Equivalents and Short-Term Investments | 510.05M | 628.11M | 879.52M | 526.42M | 339.15M | 438.68M |
| Total Debt | 13.68M | 17.52M | 9.49M | 44.96M | 44.33M | 44.34M |
| Total Liabilities | 96.32M | 107.62M | 163.81M | 224.41M | 139.83M | 133.54M |
| Stockholders Equity | 510.25M | 609.98M | 793.06M | 370.93M | 270.78M | 346.25M |
Cash Flow | ||||||
| Free Cash Flow | -205.59M | -252.61M | -165.96M | -63.56M | -105.10M | -16.82M |
| Operating Cash Flow | -205.72M | -249.68M | -164.72M | -60.63M | -86.11M | -14.79M |
| Investing Cash Flow | -2.22M | -2.35M | -1.24M | -2.93M | -18.99M | -2.03M |
| Financing Cash Flow | -148.84K | -131.00K | 519.75M | 250.03M | 6.69M | 320.73M |
Bicycle Therapeutics Technical Analysis
Neutral
4.36
Price Trends
3.95
Negative
4.08
Negative
4.80
Negative
Market Momentum
-0.05
Negative
52.50
Neutral
67.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BCYC, the sentiment is Neutral. The current price of 4.36 is above the 20-day moving average (MA) of 3.71, above the 50-day MA of 3.95, and below the 200-day MA of 4.80, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 52.50 is Neutral, neither overbought nor oversold. The STOCH value of 67.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BCYC.
Bicycle Therapeutics Risk Analysis
Bicycle Therapeutics disclosed 75 risk factors in its most recent earnings report. Bicycle Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bicycle Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $242.50M | -1.44 | -215.23% | ― | 291.42% | 11.70% | |
48 Neutral | $220.87M | -2.61 | 44.63% | ― | 3.03% | 57.71% | |
48 Neutral | $156.24M | -2.36 | -67.67% | ― | -100.00% | 17.74% | |
47 Neutral | $271.58M | -1.42 | -33.22% | ― | 215.59% | 22.48% | |
46 Neutral | $238.24M | -17.00 | -31.27% | ― | 1.32% | 59.94% | |
43 Neutral | $236.61M | -0.82 | 185.30% | ― | -56.25% | 30.97% |
* Healthcare Sector Average
BCYC
Bicycle Therapeutics
3.89
-4.23
-52.09%
MGNX
MacroGenics
3.74
2.10
128.05%
STRO
Sutro Biopharma
14.27
5.99
72.26%
ADCT
ADC Therapeutics
1.73
-2.88
-62.47%
MOLN
Molecular Partners
3.85
0.06
1.58%
PYXS
Pyxis Oncology
2.03
-1.42
-41.16%
Bicycle Therapeutics Corporate Events
Executive/Board Changes
Bicycle Therapeutics Announces Board and Advisory Resignation
Neutral
Aug 20, 2026
On August 18, 2026, Bicycle Therapeutics plc announced that Charles Swanton resigned from his role as a Class II director on the Board of Directors, as well as from all Board committees and the company’s Clinical Advisory Board, with immedia...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.