Analyst Ami Fadia from Needham maintained a Buy rating on Bicycle Therapeutics (BCYC – Research Report) and keeping the price target at $30.00.
Ami Fadia has given her Buy rating due to a combination of factors that suggest potential upside for Bicycle Therapeutics’ stock. Despite a significant decline in the stock’s value year-to-date, recent data presented at the JP Morgan conference showed an improvement in the objective response rate and confirmed objective response rate for their ZP+pembro treatment in first-line metastatic urothelial carcinoma. This improvement indicates a promising clinical profile that could enhance the stock’s attractiveness at its current valuation.
Furthermore, a mini survey conducted among physicians revealed positive feedback regarding ZP’s clinical profile. Physicians noted that the toxicity profile of Padcev, a competing treatment, limits its use, which could allow ZP to capture a significant market share. The survey results suggest that ZP could achieve at least a 50% market share, exceeding current assumptions. Additionally, ZP is viewed as a promising mid-to-late-stage asset with a potential best-in-class profile in targeting nectin-4 in metastatic urothelial carcinoma. These insights contribute to the Buy rating, as they highlight the potential for ZP to outperform current market expectations.
In another report released on February 26, JMP Securities also reiterated a Buy rating on the stock with a $26.00 price target.
Based on the recent corporate insider activity of 49 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.