Bicycle Therapeutics (BCYC) Gets a Buy Rating from Canaccord Genuity

Canaccord Genuity analyst Arlinda Lee reiterated a Buy rating on Bicycle Therapeutics (BCYCResearch Report) yesterday and set a price target of $22.00. The company’s shares closed last Monday at $14.80.

According to TipRanks.com, Lee is a 3-star analyst with an average return of 2.6% and a 43.1% success rate. Lee covers the Healthcare sector, focusing on stocks such as Black Diamond Therapeutics, Karyopharm Therapeutics, and Crispr Therapeutics AG.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bicycle Therapeutics with a $26.00 average price target, implying a 53.1% upside from current levels. In a report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $30.00 price target.

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Based on Bicycle Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $9.42 million. In comparison, last year the company had a GAAP net loss of $7.9 million.

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Bicycle Therapeutics Plc is a holding company, which engages in the development of biopharmaceuticals. It focuses on developing a novel class of medicines, which the company refers to as bicycles, for diseases that are underserved by existing therapeutics. The firm utilizes its novel and proprietary phage display screening platform to identify bicycles.