Bicycle Therapeutics (BCYC) AI Stock Analysis

• Market Cap: $595.14M
• Dividend Yield: N/A
• Average Volume (3M): 298.01K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.59
• Revenue Growth: -38.14%
• EPS Growth: 29.69%
• Country: US
• Employees: 305
• Sector: Healthcare
• Sector Strength: 41
• Industry: Biotechnology
• EPS (TTM): -0.88
• Shares Outstanding: 47,761,845
• 10 Day Avg. Volume: 307,531
• 30 Day Avg. Volume: 298,013
• PEG Ratio: 0.29
• Price to Book (P/B): 0.72
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.93
• Enterprise Value/Market Cap: -0.43
• Enterprise Value/Revenue: -1.84
• Enterprise Value/Gross Profit: -12.55
• Enterprise Value/Ebitda: 0.34
• 1Y Price Target: $22.14
• Price Target Upside: 154.48% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9

• Rating: 60 Neutral
• Price Target: $8.50 ▼(-2.30%Downside)

Bicycle Therapeutics shows strong revenue growth and promising strategic developments with its innovative pipeline in radiopharmaceuticals. However, the ongoing financial and operational challenges are significant risks, particularly the reliance on external financing. Technical indicators suggest neutral momentum, but recent corporate events signal positive strategic support and potential long-term growth.

Positive Factors

Future Advancements

The company is planning to disclose additional data and initiate multiple studies, indicating active development and potential future advancements in their pipeline.

Pipeline Development

KOLs expressed their excitement regarding zelenectide pevedotin's novel approach in the metastatic urothelial cancer space.

Safety Profile

Zelenectide pevedotin continued to show a more favorable safety and tolerability profile vs. Padcev in the combination setting with lower Grade 3+ treatment-related skin reactions.

Negative Factors

Adverse Events

KOLs flagged the rate of peripheral neuropathy as one adverse event to monitor closely, given the early follow-up time point.

Efficacy Concerns

The data presented were largely consistent with prior disclosures but demonstrated a lower objective response rate compared to the standard of care Padcev in the same setting.

Price Target Reduction

Price Target: $24.00 from $26.00.

Bicycle Therapeutics Business Overview & Revenue Model

Company Description

Bicycle Therapeutics (BCYC) is a clinical-stage biopharmaceutical company specializing in the development of a novel class of medicines, known as Bicycles, for diseases that are underserved by existing therapies. These Bicycles are synthetic short peptides constrained to form two loops, which provide a unique structural stability and high affinity for their targets. The company's primary focus is on oncology, where its proprietary technology is being applied to create targeted therapies aimed at treating cancer more effectively and with fewer side effects compared to traditional treatments.

How the Company Makes Money

Bicycle Therapeutics generates revenue primarily through collaboration and licensing agreements with larger pharmaceutical companies. These partnerships often involve upfront payments, milestone payments based on the achievement of specific development or regulatory goals, and royalties on sales of any resulting products. The company also invests in proprietary drug development, aiming to bring its own therapies to market, which could provide significant revenue through direct sales in the future. Additionally, government grants and research funding may contribute to its income, supporting its development activities and innovation in the biopharmaceutical field.

Bicycle Therapeutics Financial Statement Overview

Summary

Bicycle Therapeutics demonstrates strong revenue growth and maintains a robust cash position, crucial for its R&D activities in biotechnology. However, consistent net losses and negative cash flows from operations indicate financial challenges. The company relies heavily on external financing, which poses a risk if financing conditions change.

Income Statement

Bicycle Therapeutics shows strong revenue growth over the years, with Total Revenue increasing from $10.39M in 2020 to $25.73M in TTM. However, the company is still experiencing significant net losses, as reflected in the negative Net Profit Margin and EBIT Margin. The Gross Profit Margin has improved, but the high negative EBIT and EBITDA margins indicate operational inefficiencies.

Balance Sheet

The balance sheet is supported by a strong cash position, with substantial cash reserves exceeding total debt, resulting in negative net debt. The Debt-to-Equity ratio is low, indicating low leverage. However, the Return on Equity is negative due to ongoing net losses, which is a concern for profitability.

Cash Flow

The company has a negative Free Cash Flow, but the cash flow from financing activities remains strong, indicating reliance on external funding. The Operating Cash Flow to Net Income ratio is below ideal levels, reflecting operational challenges. However, the company’s ability to raise significant financing is a positive factor.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	35.27M	26.98M	14.46M	11.70M	10.39M
Gross Profit	28.11M	20.51M	10.78M	-33.18M	-22.76M
EBITDA	-164.89M	-183.40M	-112.96M	-64.08M	-50.39M
Net Income	-169.03M	-180.66M	-112.72M	-66.82M	-51.01M
Balance Sheet
Total Assets	956.87M	595.34M	410.61M	479.79M	161.15M
Cash, Cash Equivalents and Short-Term Investments	879.52M	526.42M	339.15M	438.68M	135.99M
Total Debt	9.49M	44.96M	44.33M	44.34M	15.78M
Total Liabilities	163.81M	224.41M	139.83M	133.54M	65.69M
Stockholders Equity	793.06M	370.93M	270.78M	346.25M	95.46M
Cash Flow
Free Cash Flow	-165.96M	-63.56M	-105.10M	-16.82M	-18.99M
Operating Cash Flow	-164.72M	-60.63M	-86.11M	-14.79M	-17.79M
Investing Cash Flow	-1.24M	-2.93M	-18.99M	-2.03M	-1.20M
Financing Cash Flow	519.75M	250.03M	6.69M	320.73M	62.84M

Bicycle Therapeutics Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 8.70
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BCYC, the sentiment is Positive. The current price of 8.7 is above the 20-day moving average (MA) of 7.88, above the 50-day MA of 8.02, and below the 200-day MA of 13.12, indicating a neutral trend. The MACD of 0.21 indicates Negative momentum. The RSI at 61.54 is Neutral, neither overbought nor oversold. The STOCH value of 67.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BCYC.

Bicycle Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
URGN	61 Neutral	$875.52M	―	-452.20%	―	8.98%	6.32%
MGTX	60 Neutral	$667.84M	―	-216.14%	―	203.23%	-80.71%
BCYC	60 Neutral	$595.14M	―	-37.13%	―	-38.14%	29.69%
QURE	54 Neutral	$832.72M	―	-241.16%	―	6.30%	29.17%
Sector *	50 Neutral	AU$2.61B	2.94	-57.47%	2.40%	36.37%	14.48%
KURA	47 Neutral	$539.36M	―	-41.84%	―	―	3.95%
OPT	39 Underperform	$485.08M	―		―	-25.10%	-7.06%

Bicycle Therapeutics Corporate Events

Bicycle Therapeutics Approves Proposals at Annual Meeting

On June 17, 2025, Bicycle Therapeutics held its annual general meeting where all proposals, including director re-elections and auditor appointments, were approved by shareholders. The meeting saw high shareholder participation, with approximately 98.63% of shares represented, reflecting strong support for the company’s governance and strategic direction.

The most recent analyst rating on (BCYC) stock is a Buy with a $42.00 price target. To see the full list of analyst forecasts on Bicycle Therapeutics stock, see the BCYC Stock Forecast page.

Bicycle Therapeutics Reveals Promising Imaging Data at AACR

On April 29, 2025, Bicycle Therapeutics announced additional human radiopharmaceutical imaging data for MT1-MMP at the AACR Annual Meeting 2025, demonstrating the potential of MT1-MMP as a novel cancer target. The data, involving 12 patients with various solid tumors, highlighted the efficacy of Bicycle® Radioconjugates (BRC®) in radiopharmaceutical imaging, showing promising results in tumor targeting and tracer uptake. The company plans to advance its radiopharmaceutical pipeline with initial human imaging data for a second target, EphA2, expected later in 2025, and company-sponsored clinical trials planned for 2026.