Bicycle Therapeutics: Buy Rating Backed by Promising Clinical Developments and Strategic Positioning

Analyst Ami Fadia of Needham maintained a Buy rating on Bicycle Therapeutics (BCYC – Research Report), retaining the price target of $30.00.

Ami Fadia has given his Buy rating due to a combination of factors that suggest potential growth for Bicycle Therapeutics. The positive outlook is primarily driven by the favorable clinical profile of zelenectide pevedotin, which is gaining positive feedback from physicians, as indicated by a recent survey. This optimism is further supported by the limitations in the use of Padcev due to its toxicity profile, positioning Bicycle Therapeutics’ offering as a preferable alternative.
Additionally, upcoming data updates are anticipated to provide further insights into the company’s pipeline, with significant milestones expected in mid-2025 and the second half of 2025. These include BRC imaging data targeting M1-MMP and EphA2, as well as updates from Phase 1 and Phase 2/3 trials of Duravelo-2. The expected progress and data releases are seen as catalysts that could enhance the company’s market position and drive stock value upward.