JMP Securities Maintains Market Outperform on Bicycle Therapeutics, Lowers Price Target to $32
Portfolio Pulse from Benzinga Newsdesk
JMP Securities analyst Reni Benjamin has maintained a Market Outperform rating on Bicycle Therapeutics (NASDAQ:BCYC) but has reduced the price target from $44 to $32.
December 20, 2023 | 12:06 pm
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JMP Securities reaffirmed a Market Outperform rating on Bicycle Therapeutics but lowered the price target from $44 to $32, indicating a potential downside compared to the previous target.
The reduction in price target by JMP Securities suggests that while they remain optimistic about Bicycle Therapeutics' performance, they see less upside potential than before. This adjustment could lead to a negative short-term reaction in the stock price as investors recalibrate their expectations based on the new analyst target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100