Bicycle Therapeutics (BCYC) AI Stock Analysis

• Market Cap: $588.91M
• Dividend Yield: N/A
• Average Volume (3M): 410.74K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.67
• Revenue Growth: -38.14%
• EPS Growth: 29.69%
• Country: US
• Employees: 305
• Sector: Healthcare
• Sector Strength: 43
• Industry: Biotechnology
• EPS (TTM): -0.88
• Shares Outstanding: 47,761,845
• 10 Day Avg. Volume: 384,185
• 30 Day Avg. Volume: 410,738
• PEG Ratio: 0.29
• Price to Book (P/B): 0.73
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -2.96
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $26.10
• Price Target Upside: 222.22% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 11

• Rating: 54 Neutral
• Price Target: $8.00 ▼( -1.23% Downside)

Bicycle Therapeutics' score is primarily influenced by its strong revenue growth and promising corporate event regarding cancer targeting. However, financial challenges due to consistent net losses and negative technical indicators weigh down the score. The absence of positive valuation metrics further limits the overall score.

Positive Factors

Clinical Trials

The company highlighted continued pipeline progress across the portfolio, including the Bicycle Toxin Conjugate (BTC) and Bicycle Radio Conjugate (BRC) franchises.

Financial Stability

Bicycle Therapeutics has multiple partnerships providing non-dilutive capital and external pipeline validation, which enhances its financial stability.

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

Efficacy Comparison

The efficacy still falls short of the 64-73% overall response rate seen with Padcev, which has increasingly become the standard of care for 1L metastatic urothelial cancer.

Market Expectations

The company's next presentation at ASCO 2025 is not expected to provide any meaningful new data.

Safety Concerns

The safety profile has deteriorated with an increased incidence of peripheral neuropathy.

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 based on its proprietary bicyclic peptide (Bicycle) technology. The company's focus is on creating transformative therapies for diseases with significant unmet medical needs, including oncology and other serious conditions. Bicycle Therapeutics' core products are its Bicycle-based drug candidates, which aim to provide a new therapeutic modality with the potential for high specificity, potency, and favorable pharmacokinetic properties.

How the Company Makes Money

Bicycle Therapeutics makes money through a combination of research and development collaborations, licensing agreements, and potential future sales of its proprietary drug candidates. The company engages in partnerships with larger pharmaceutical companies to jointly develop and commercialize Bicycle-based therapies, often receiving upfront payments, milestone payments, and royalties on future sales. These collaborations and licensing deals are critical revenue streams as the company advances its drug candidates through clinical trials and seeks regulatory approval. Additionally, Bicycle Therapeutics may generate revenue from government grants and other funding opportunities that support its research initiatives.

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 on external financing to sustain operations, typical for companies in the biotechnology sector, but it also 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
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
25.73M	35.27M	26.98M	14.46M	11.70M	10.39M
	Gross Profit
20.17M	28.11M	20.51M	10.78M	-33.18M	-22.76M
	EBIT
-255.83M	-209.87M	-189.95M	-116.65M	-65.62M	-51.96M
	EBITDA
-219.83M	-164.89M	-183.40M	-112.96M	-64.08M	-50.39M
	Net Income Common Stockholders
-203.27M	-169.03M	-180.66M	-112.72M	-66.82M	-51.01M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
293.81M	879.52M	526.42M	339.15M	438.68M	135.99M
	Total Assets
428.80M	956.87M	595.34M	410.61M	479.79M	161.15M
	Total Debt
49.47M	9.49M	44.96M	44.33M	44.34M	15.78M
	Net Debt
-244.35M	-870.03M	-481.47M	-294.83M	-394.34M	-120.22M
	Total Liabilities
185.64M	163.81M	224.41M	139.83M	133.54M	65.69M
	Stockholders Equity
243.16M	793.06M	370.93M	270.78M	346.25M	95.46M
Cash Flow		Free Cash Flow
-182.13M	-165.96M	-63.56M	-105.10M	-16.82M	-18.99M
	Operating Cash Flow
-180.23M	-164.72M	-60.63M	-86.11M	-14.79M	-17.79M
	Investing Cash Flow
-1.83M	-1.24M	-2.93M	-18.99M	-2.03M	-1.20M
	Financing Cash Flow
518.01M	519.75M	250.03M	6.69M	320.73M	62.84M

Bicycle Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 8.10
• 50DMA: Negative
• 100DMA: Negative
• 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 Negative. The current price of 8.1 is below the 20-day moving average (MA) of 8.35, below the 50-day MA of 8.28, and below the 200-day MA of 16.42, indicating a bearish trend. The MACD of -0.04 indicates Negative momentum. The RSI at 47.56 is Neutral, neither overbought nor oversold. The STOCH value of 36.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BCYC.

Bicycle Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BCYC	54 Neutral	$588.91M	―	-37.13%	―	-38.14%	29.69%
Sector *	53 Neutral	$5.14B	3.06	-43.57%	2.81%	16.81%	-0.12%
KURA	47 Neutral	$540.23M	―	-41.84%	―	―	3.95%
URGN	47 Neutral	$188.12M	―	-452.20%	―	8.98%	6.32%
QURE	45 Neutral	$833.82M	―	-241.16%	―	6.30%	29.17%
MGTX	44 Neutral	$406.65M	―	-216.14%	―	203.23%	-80.71%
OPT	39 Underperform	$473.85M	―		―	-25.10%	-7.06%

Bicycle Therapeutics Corporate Events

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.

Bicycle Therapeutics Announces Key Leadership Changes

Bicycle Therapeutics announced several key leadership changes and appointments on March 27, 2025, including the addition of Alessandro Riva, M.D., to the Board of Directors and the Scientific Committee, and the promotion of Eric Westin, M.D., to Chief Medical Officer. These changes, along with the retirement of Pierre Legault and Richard Kender from the Board, are part of the company’s strategy to strengthen its expertise in oncology and position itself as a leader in cancer drug development. The company also highlighted the transition of Santiago Arroyo, M.D., Ph.D., to a consulting role, ensuring continued strategic advice and support.