Bicycle Therapeutics (BCYC) Reiterated at Market Outperform by Citizens

Citizens analyst Reni Benjamin reiterated a Market Outperform rating and $8.00 price target on Bicycle Therapeutics (NASDAQ: BCYC).

The analyst commented, "We maintain our Market Outperform rating and price target of $8 for Bicycle Therapeutics based on a platform and cash/share analysis. Recently, Bicycle presented updated doseoptimization data from the Duravelo-2 study of zele (Nectin-4 BDC) plus pembro Q3W in mUC. Importantly, the efficacy generated a compelling 58% BICR-confirmed ORR. We view these data as providing a readthrough to the broader platform pipeline spanning both BDCs and radioligand programs. With $559.5MM in cash, a refocus on early-stage programs that could drive value over the next 12 months, and given the company trades at a negative enterprise value (-$259.5MM), we believe shares have upside potential from current levels."

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 $4.30 yesterday.

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