Bicycle Therapeutics (NASDAQ:BCYC) Releases Earnings Results, Beats Expectations By $0.06 EPS

Bicycle Therapeutics (NASDAQ:BCYC) released its quarterly earnings results on Thursday. The company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.06, Briefing.com reports. Bicycle Therapeutics had a negative net margin of 417.88% and a negative return on equity of 32.80%. The business had revenue of $2.68 million for the quarter, compared to the consensus estimate of $6.82 million. During the same period in the prior year, the company posted ($1.26) earnings per share. Bicycle Therapeutics’s revenue was down 50.0% compared to the same quarter last year.

Bicycle Therapeutics Price Performance

Shares of BCYC traded up $0.08 during mid-day trading on Friday, reaching $23.52. The company had a trading volume of 149,789 shares, compared to its average volume of 352,728. The company’s 50 day simple moving average is $24.18 and its 200 day simple moving average is $23.11. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -6.23 and a beta of 0.89. Bicycle Therapeutics has a 1-year low of $12.54 and a 1-year high of $28.67. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.77 and a current ratio of 14.77.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Bicycle Therapeutics in a report on Monday, September 9th. Needham & Company LLC restated a “buy” rating and set a $38.00 price objective on shares of Bicycle Therapeutics in a research note on Thursday. Oppenheimer reiterated an “outperform” rating and set a $48.00 target price on shares of Bicycle Therapeutics in a research report on Wednesday, August 7th. B. Riley downgraded Bicycle Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the company from $33.00 to $28.00 in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada initiated coverage on shares of Bicycle Therapeutics in a research note on Friday, September 6th. They set an “outperform” rating and a $35.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Bicycle Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $44.56.

Insider Buying and Selling

In other Bicycle Therapeutics news, CEO Kevin Lee sold 3,212 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $22.26, for a total transaction of $71,499.12. Following the sale, the chief executive officer now owns 380,864 shares of the company’s stock, valued at approximately $8,478,032.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 4,584 shares of company stock worth $102,040 in the last three months. 8.50% of the stock is owned by corporate insiders.

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.