Bicycle Therapeutics plc (BCYC) AI Stock Analysis

Bicycle Therapeutics plc is a clinical-stage biopharmaceutical company pioneering a new class of medicines to address unmet disease needs. Its lead oncology candidates include BT1718, a bicycle toxin conjugate (BTC) in Phase I/IIa clinical trials targeting MT1-MMP, along with BT5528 targeting EphA2 and BT8009 targeting Nectin-4. It also develops THR-149, a plasma kallikrein inhibitor that completed Phase II trials for diabetic macular edema, as well as BT7480 and BT7455, which are tumor-targeted immune cell agonists (TICAs) for immuno-oncology. Headquartered in Cambridge, United Kingdom, the company collaborates with AstraZeneca, Sanofi, Oxurion, and the Dementia Discovery Fund across oncology, anti-infective, cardiovascular, ophthalmology, and respiratory indications.

Annual revenue increased from $11.7M in FY2021 to $72.6M in FY2025, delivering a 5-year revenue CAGR of 47.5% through FY2025. Over the same period, research and development expenses expanded from $44.9M in FY2021 to $240.3M in FY2025, driving ongoing net losses that reached -$219.0M in FY2025 alongside an operating margin of -341.3%. For the trailing twelve months ended June 30, 2026, revenue stood at $61.2M with diluted EPS of -$2.73. In the quarter ended June 30, 2026, quarterly revenue declined 78.5% year-over-year, while the trailing twelve-month operating margin was -8673.9%.

As of June 30, 2026, Bicycle Therapeutics held $510.1M in cash and short-term investments against total debt of $13.7M, yielding net cash of $496.4M. Its liquidity profile includes a current ratio of 12.08 and a debt-to-equity ratio of 0.03. In FY2025, operating cash flow was -$249.7M, capital expenditures were $2.4M, and free cash flow was -$252.6M. The company does not conduct share repurchases, and its share count grew 142.5% over 5 years.

At a share price of $3.46, Bicycle Therapeutics has a market capitalization of $241.5M and an enterprise value of -$243.4M. The stock trades at a price-to-sales multiple of 4.0x, in line with the 4.1x median of its US-listed Healthcare peers, while its price-to-book ratio is 0.5x. Its EV-to-revenue multiple is 21.2x. Over the past year, the stock fell 60.0% compared to a 16.8% return for the S&P 500 (SPY), and over five years it has fallen 94.2% versus an 83.0% gain for SPY.

Consensus analyst ratings include 4 Strong Buys, 2 Buys, 3 Holds, and no Sells or Strong Sells. The mean price target is $9.50, representing a 174.6% upside from the last close of $3.46. For the fiscal year ending December 31, 2026, analysts estimate revenue of $17.5M and EPS of -$2.45. For the following fiscal year, 8 analysts expect revenue to fall 61.9% to $6.7M with EPS of -$2.22. Bicycle Therapeutics beat EPS estimates in 2 of the last 4 quarters, with next earnings scheduled for October 29, 2026.

This page is an AI-written research summary of Bicycle Therapeutics plc (BCYC). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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