Bicycle Therapeutics plc (NASDAQ:BCYC) Third-Quarter Results Just Came Out: Here's What Analysts Are Forecasting For Next Year

Shareholders might have noticed that Bicycle Therapeutics plc (NASDAQ:BCYC) filed its third-quarter result this time last week. The early response was not positive, with shares down 8.2% to US$22.71 in the past week. Revenues fell badly short of expectations, with revenue of US$2.7m being some 62% below what the analysts had forecast. Statutory losses were in line with forecasts, with Bicycle Therapeutics losing US$0.74 a share. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

See our latest analysis for Bicycle Therapeutics

Taking into account the latest results, the eleven analysts covering Bicycle Therapeutics provided consensus estimates of US$36.1m revenue in 2025, which would reflect a perceptible 2.1% decline over the past 12 months. Per-share losses are expected to explode, reaching US$3.55 per share. Yet prior to the latest earnings, the analysts had been forecasting revenues of US$35.1m and losses of US$3.47 per share in 2025. Overall it looks as though the analysts were a bit mixed on the latest consensus updates. Although there was a nice uplift to revenue, the consensus also made a moderate increase in its losses per share forecasts.

There was no major change to the consensus price target of US$39.10, with growing revenues seemingly enough to offset the concern of growing losses. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. There are some variant perceptions on Bicycle Therapeutics, with the most bullish analyst valuing it at US$55.00 and the most bearish at US$28.00 per share. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.

Of course, another way to look at these forecasts is to place them into context against the industry itself. These estimates imply that revenue is expected to slow, with a forecast annualised decline of 1.7% by the end of 2025. This indicates a significant reduction from annual growth of 31% over the last five years. Compare this with our data, which suggests that other companies in the same industry are, in aggregate, expected to see their revenue grow 21% per year. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - Bicycle Therapeutics is expected to lag the wider industry.

The Bottom Line

The most important thing to note is the forecast of increased losses next year, suggesting all may not be well at Bicycle Therapeutics. They also upgraded their revenue estimates for next year, even though it is expected to grow slower than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have estimates - from multiple Bicycle Therapeutics analysts - going out to 2026, and you can see them free on our platform here.

Even so, be aware that Bicycle Therapeutics is showing 4 warning signs in our investment analysis , and 2 of those are concerning...

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.