In a report released on February 25, Jonathan Chang from Leerink Partners reiterated a Buy rating on Bicycle Therapeutics (BCYC – Research Report), with a price target of $26.00.
Jonathan Chang has given his Buy rating due to a combination of factors including Bicycle Therapeutics’ steady progress in their pipeline, particularly with their Bicycle Toxin Conjugate (BTC) and Bicycle Radio Conjugate (BRC) franchises. The company has shown promising developments in their treatments, such as zelenectide pevedotin for metastatic urothelial carcinoma (mUC), with upcoming data readouts expected to be significant catalysts for the stock.
Moreover, the company’s plans to expand zelenectide pevedotin’s application to other tumor types with nectin-4 amplification, supported by encouraging data from previous studies, further solidifies the potential growth. Additionally, the anticipated updates on the BRC pipeline, including MT1-MMP and EphA2 data, present upside opportunities. Overall, the potential to enhance antibody-based approaches with innovative treatments positions Bicycle Therapeutics favorably in the market.
Chang covers the Healthcare sector, focusing on stocks such as Replimune Group, Bicycle Therapeutics, and Kura Oncology. According to TipRanks, Chang has an average return of -9.4% and a 31.07% success rate on recommended stocks.
In another report released yesterday, JMP Securities also reiterated a Buy rating on the stock with a $26.00 price target.