H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on Bicycle Therapeutics (BCYC – Research Report) today and set a price target of $33.00.
Swayampakula Ramakanth’s rating is based on several promising developments at Bicycle Therapeutics. The company has a strong financial position with $880 million in cash, allowing it to advance its lead clinical candidate, zelenectide pevedotin (zele), which targets Nectin-4 for treating various solid tumors. Zele has shown lower toxicity compared to existing treatments and achieved a 65% objective response rate in an ongoing study for metastatic urothelial cancer. Additional data expected in 2025 could further validate its efficacy.
Beyond this, Bicycle Therapeutics is expanding its research into other cancers, including breast cancer and non-small cell lung cancer, with plans to initiate several Phase 1/2 studies. The company’s strategy is supported by promising post-hoc analysis results, indicating potential for zele to treat a significant portion of patients with Nectin-4 gene amplification. Furthermore, the company’s work on Bicycle Radionuclide Conjugates could offer new theranostic opportunities, adding to the overall positive outlook for Bicycle Therapeutics.
Ramakanth covers the Healthcare sector, focusing on stocks such as Eton Pharmaceuticals, AbSci, and Mediwound. According to TipRanks, Ramakanth has an average return of 6.6% and a 39.24% success rate on recommended stocks.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $26.00 price target.