Bicycle Therapeutics (BCYC – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Reni Benjamin from JMP Securities maintained a Buy rating on the stock and has a $26.00 price target.
Reni Benjamin has given his Buy rating due to a combination of factors that highlight the promising outlook for Bicycle Therapeutics. The company has demonstrated strong progress with its clinical trials, particularly the Duravelo-2 trial, which is enrolling participants faster than anticipated. This trial is crucial as it involves the pivotal dose selection for zelenectide, expected in the second half of 2025. Additionally, Bicycle Therapeutics has established proof of concept for its BRC imaging and maintains multiple partnerships that provide non-dilutive capital, bolstering its financial position.
Furthermore, the company’s financial health is robust, with a strong cash position of approximately $879.5 million, which supports its ongoing research and development activities. The recent data from the zelenectide and pembrolizumab combination in patients ineligible for cisplatin shows promising efficacy, with a confirmed overall response rate of 50%. This positions the company competitively in the market, especially against existing treatments. With a potential upside of 206% and a downside of 19%, the stock presents a compelling investment opportunity, justifying the Buy rating.
According to TipRanks, Benjamin is an analyst with an average return of -14.5% and a 29.98% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Blueprint Medicines, Incyte, and BeiGene.
In another report released yesterday, Rodman & Renshaw also reiterated a Buy rating on the stock with a $33.00 price target.