Promising Developments in Bicycle Therapeutics’ Pipeline Bolster Buy Rating

TD Cowen analyst Tara Bancroft has maintained their bullish stance on BCYC stock, giving a Buy rating on April 29.

Tara Bancroft’s rating is based on several promising developments in Bicycle Therapeutics’ pipeline, particularly concerning their drug candidate, zele. The ongoing Phase II/III Duravelo-2 trial is a significant factor, as it evaluates zele in both first-line and second-line metastatic urothelial carcinoma (mUC) patients. The trial’s primary endpoint is progression-free survival (PFS), and early data suggest that zele could be competitive, especially in terms of safety profile, which is a critical concern for key opinion leaders.
Furthermore, the company is expected to release updates from the lead-in dose selection portion of the pivotal trial, which could provide further insights into zele’s efficacy. With additional Phase II data anticipated, including median progression-free survival (mPFS) for second-line treatment, there is optimism about zele’s potential. The confidence is bolstered by previous data where zele showed a differentiated profile, particularly in the second-line cohort, achieving a median duration of response (mDOR) that outperformed previous benchmarks. These factors combined contribute to Bancroft’s Buy rating for Bicycle Therapeutics.

In another report released on April 29, Needham also maintained a Buy rating on the stock with a $29.00 price target.

Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BCYC in relation to earlier this year.