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Barclays lowered the firm’s price target on Bicycle Therapeutics (BCYC) to $15 from $40 and keeps an Overweight rating on the shares following the Q1 report. The firm says the company’s pipeline catalysts remain on track. “Out of an abundance of caution,” the analyst increased the stock’s discount rate, removed deeper pipeline value, and trimmed penetration, driving the target cut.

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Read More on BCYC:

Disclaimer & DisclosureReport an Issue

• Bicycle Therapeutics: Promising Advancements and Strong Financial Position Justify Buy Rating

• Promising Developments in Bicycle Therapeutics’ Pipeline Bolster Buy Rating

• Bicycle Therapeutics reports Q1 EPS (88c), consensus (81c)

• Promising Imaging Data and Future Trials Support Buy Rating for Bicycle Therapeutics

• Bicycle Therapeutics Reveals Promising Imaging Data at AACR