Analyst Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on Bicycle Therapeutics (BCYC – Research Report) and keeping the price target at $33.00.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors that highlight Bicycle Therapeutics’ promising advancements and strong financial position. The company has made significant progress in its pipeline, particularly with its MT1-MMP-targeting Bicycle Radioconjugates (BRC), which have shown promising results in cancer imaging, validating MT1-MMP as a potential marker for various cancers. This progress supports further development and optimization of their BRCs for cancer diagnosis.
Swayampakula also notes the company’s robust cash reserves of $793 million, which provide a financial runway into the second half of 2027. This financial strength positions Bicycle Therapeutics well to advance its Nectin-4 BTC program and achieve multiple clinical milestones. The company’s strategic focus on enrolling patients in key studies and its plans to present clinical data updates in the coming years further reinforce the Buy rating. Additionally, the valuation analysis, which includes a risk-adjusted net present value and a 12-month price target of $33, supports the positive outlook on Bicycle Therapeutics’ stock.