Roth Capital Partners launched coverage of Bicycle Therapeutics (NASDAQ:BCYC) with a “buy” rating and $17 price target. The stock closed at $8.61 on Nov. 13.
Bicycle is developing peptides that may be able to deliver a cytotoxic payload directly within tumor cells, writes analyst Tony Butler. Bicycle peptides are synthetic, low molecular weight short peptides that are constrained to form two loops that stabilize the peptides and facilitate target-binding with high affinity and selectivity, he added.
Mr. Butler said Bicycle peptides can act on both intracellular and extracellular targets, and may overcome limitations observed with currently-available therapeutic modalities: small molecules, antibodies and large peptides.
Currently, he said the company is using its Bicycle technology platform to develop several Bicycle-toxin conjugates for anticancer therapy. In addition, under several partnership agreements, the platform is being used to develop therapies for a range of targets in hematological, ophthalmic, respiratory, cardiovascular and metabolic indications.
