Q3 2024 Earnings Forecast for Bicycle Therapeutics plc Issued By B. Riley (NASDAQ:BCYC)

Bicycle Therapeutics plc (NASDAQ:BCYC) – Equities researchers at B. Riley increased their Q3 2024 earnings per share (EPS) estimates for Bicycle Therapeutics in a research report issued on Tuesday, August 6th. B. Riley analyst K. Patel now anticipates that the company will post earnings per share of ($0.55) for the quarter, up from their prior forecast of ($0.95). B. Riley currently has a “Neutral” rating and a $28.00 target price on the stock. The consensus estimate for Bicycle Therapeutics’ current full-year earnings is ($4.44) per share. B. Riley also issued estimates for Bicycle Therapeutics’ Q4 2024 earnings at ($0.58) EPS, FY2024 earnings at ($2.33) EPS and FY2025 earnings at ($3.14) EPS.

Bicycle Therapeutics (NASDAQ:BCYC) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.77) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.10) by $0.33. Bicycle Therapeutics had a negative return on equity of 49.35% and a negative net margin of 404.14%. The business had revenue of $9.36 million during the quarter, compared to analysts’ expectations of $6.13 million. The business’s quarterly revenue was down 17.9% on a year-over-year basis.

Other analysts have also recently issued research reports about the company. Oppenheimer reiterated an “outperform” rating and set a $48.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and set a $55.00 price objective on shares of Bicycle Therapeutics in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Bicycle Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $45.75.

Bicycle Therapeutics Trading Up 1.0 %

Bicycle Therapeutics stock opened at $23.19 on Friday. The stock has a market cap of $992.05 million, a PE ratio of -5.21 and a beta of 0.94. The stock has a 50-day moving average price of $22.35 and a 200 day moving average price of $22.50. Bicycle Therapeutics has a 52 week low of $12.54 and a 52 week high of $27.24. The company has a current ratio of 10.42, a quick ratio of 10.42 and a debt-to-equity ratio of 0.09.

Insiders Place Their Bets

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,194 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $19.64, for a total value of $62,730.16. Following the sale, the chief executive officer now directly owns 384,076 shares of the company’s stock, valued at approximately $7,543,252.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 4,555 shares of company stock valued at $89,460. Insiders own 8.50% of the company’s stock.

Institutional Trading of Bicycle Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its stake in Bicycle Therapeutics by 45.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 401,646 shares of the company’s stock worth $10,001,000 after buying an additional 124,809 shares during the last quarter. Trexquant Investment LP boosted its stake in Bicycle Therapeutics by 177.6% in the 4th quarter. Trexquant Investment LP now owns 196,323 shares of the company’s stock worth $3,550,000 after buying an additional 125,604 shares during the last quarter. Parkman Healthcare Partners LLC lifted its stake in shares of Bicycle Therapeutics by 155.0% in the 4th quarter. Parkman Healthcare Partners LLC now owns 312,889 shares of the company’s stock valued at $5,657,000 after purchasing an additional 190,168 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Bicycle Therapeutics by 13.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 1,038,917 shares of the company’s stock valued at $25,869,000 after purchasing an additional 121,613 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in shares of Bicycle Therapeutics by 108.6% in the 4th quarter. Jump Financial LLC now owns 77,332 shares of the company’s stock valued at $1,398,000 after purchasing an additional 40,265 shares in the last quarter. 86.15% of the stock is owned by institutional investors and hedge funds.

About Bicycle Therapeutics

Bicycle Therapeutics plc, a clinical-stage biopharmaceutical company, develops a class of medicines for diseases that are underserved by existing therapeutics in the United States and the United Kingdom. Its product pipeline comprising BT8009, a bicycle toxin conjugate (BTC) which is in phase I/II/III clinical trial for the treatment of high nectin-4 expressing tumors; BT5528, a BTC which is in phase I/II clinical trial for the treatment of Ephrin type A receptor 2 expressing tumor; BT7480, a Bicycle TICA molecule which is in phase I/II targeting Nectin-4 and agonizing CD137; and BT7455, a Bicycle TICA molecule targeting Ephrin type A receptor 2 and CD137 and is in preclinical trial.