Stephens analyst Sudan Loganathan initiated coverage of Bicycle Therapeutics (BCYC) with an Equal Weight rating and $25 price target as the firm is adding to its biotechnology research coverage with a focus on antibody-drug delivery technologies for the treatment of cancers. Bicycle has a proven platform of novel precision guided medicines to target cancers, but its lead assets have an “uphill battle to compete with incumbents,” the analyst tells investors.
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