UPDATE: JMP Securities Starts Bicycle Therapeutics (BCYC) at Market Outperform

(Updated - April 20, 2021 3:36 AM EDT)

JMP Securities analyst Reni Benjamin initiates coverage on Bicycle Therapeutics (NASDAQ: BCYC) with a Market Outperform rating and a price target of $53.00.

The analyst comments "Bicycle toxin conjugates (BTCs) appear to have the specificity and efficacy of antibody drug conjugates (ADCs), but with the pharmacokinetic and property benefits of small molecules. Importantly, the platform technology has been validated clinically with activity seen across a variety of tumors. With three products in the clinic advancing through dose-ranging studies or already in Phase 2, an early, but important, foray into immuno-oncology, key data points expected over the next 6-12 months, and a strong cash position of $183MM (pro forma), we believe shares represent a unique investment opportunity and are attractively priced with ~50% potential downside (bear case $14) and ~167% potential upside (bull case $75)."

For an analyst ratings summary and ratings history on Bicycle Therapeutics click here. For more ratings news on Bicycle Therapeutics click here.

Shares of Bicycle Therapeutics closed at $28.10 yesterday.

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