B. Riley Securities Downgrades Rating to Neutral for Bicycle Therapeutics, Lowers Price Target To $33

B. Riley Securities downgraded its rating of Bicycle Therapeutics BCYC to Neutral with a price target of $33.00, changing its price target from $62.00 to $33.00.

Shares of Bicycle Therapeutics are trading down 5.7% over the last 24 hours, at $23.48 per share.

A move to $33.00 would account for a 40.55% increase from the current share price.

About Bicycle Therapeutics

Bicycle Therapeutics PLC is a clinical-stage biopharmaceutical company developing a novel class of medicines which are referred to as Bicycles. The Bicycles are synthetic short peptides constrained to form two loops which stabilize their structural geometry. Its initial internal programs are focused on oncology indications with high unmet medical need. The company's product candidate, BT1718, is a Bicycle Toxin Conjugate, or BTC.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

This article was generated by Benzinga's automated content engine and reviewed by an editor.