Bicycle Therapeutics: Strong Pipeline Progress and Strategic Expansion Support Buy Rating

Leerink Partners analyst Jonathan Chang maintained a Buy rating on Bicycle Therapeutics (BCYC – Research Report) on May 1 and set a price target of $24.00.

Jonathan Chang’s rating is based on Bicycle Therapeutics’ consistent progress in their pipeline, particularly in the development of their Bicycle Toxin Conjugate (BTC) and Bicycle Radio Conjugate (BRC) franchises. The company is on track with its clinical trials, including the Phase I/II Duravelo-1 study, which is set to present updated data at the upcoming ASCO 2025 meeting. This study evaluates the combination of zelenectide pevedotin and pembrolizumab in treating metastatic urothelial cancer, with promising results expected to be shared.
Additionally, the initiation of the Phase I/II Duravelo-3 study in breast cancer and plans for further studies, such as Duravelo-4 and 5, indicate a robust pipeline expansion strategy. The company also plans to disclose more data on breast and lung cancer patients treated with zelenectide pevedotin, which could provide valuable insights for future studies. On the BRC side, the presentation of new human imaging data and the anticipation of further data disclosures in the second half of 2025 highlight the company’s potential in advancing its early-stage pipeline. These factors collectively support the Buy rating, reflecting confidence in the company’s strategic direction and potential for growth.

According to TipRanks, Chang is an analyst with an average return of -11.6% and a 29.86% success rate. Chang covers the Healthcare sector, focusing on stocks such as Kura Oncology, Genmab, and Nanobiotix.

In another report released on May 2, Citizens JMP also maintained a Buy rating on the stock with a $22.00 price target.