Citizens Upholds Outperform Rating for Bicycle Therapeutics plc - Depositary Receipt (BCYC) Market
Analyst Recommendation: Citizens maintains a Market Outperform recommendation for Bicycle Therapeutics plc - Depositary Receipt (NasdaqGS:BCYC) as of October 31, 2025, with a projected one-year price target of $24.91/share, indicating a potential upside of 209.00% from its current price of $8.06/share.
Projected Revenue and EPS: The projected annual revenue for Bicycle Therapeutics is estimated at $48 million, reflecting a 146.60% increase, while the projected non-GAAP EPS is -4.30.
Fund Sentiment: There are 142 funds reporting positions in Bicycle Therapeutics, with a 10.94% increase in ownership over the last quarter. The average portfolio weight for these funds is 0.24%, which has increased by 18.04%.
Shareholder Activity: Notable shareholders include Baker Bros. Advisors, Fcpm Iii Services B.v., Armistice Capital, Westfield Capital Management Co, and Siren, L.L.C., with varying changes in their shareholdings and portfolio allocations over the last quarter.
Trade with 70% Backtested Accuracy
Analyst Views on BCYC
About BCYC
About the author

Bicycle Therapeutics Signs 15-Year Contract with UK NDA for 400 Tonnes of Reprocessed Uranium
- Strategic Partnership: Bicycle Therapeutics has signed a 15-year contract with the UK Nuclear Decommissioning Authority to access up to 400 tonnes of reprocessed uranium, which is expected to provide a sustainable supply of 212Pb for its potential lifesaving therapies, significantly enhancing its competitive edge in the radiopharmaceutical sector.
- Technological Innovation: Through collaboration with the UK National Nuclear Laboratory, Bicycle plans to extract 228Th from the reprocessed uranium and further process it into 224Ra, developing a bespoke 212Pb generator that will drive the development of its radioconjugate portfolio.
- Market Potential: Bicycle's radioconjugates (BRCs) will utilize 212Pb as a potent therapeutic payload against cancer, expected to offer new treatment options for cancer patients worldwide, presenting significant market opportunities and societal impact.
- R&D Progress: Bicycle aims to present initial EphA2 human imaging data in the first half of 2026 and initiate its own clinical study, marking ongoing advancements in radiopharmaceutical development and establishing its position as a potential leader in the field.

Bicycle Therapeutics Signs 15-Year Contract with UK NDA for 400 Tonnes of Reprocessed Uranium
- Long-Term Partnership: Bicycle Therapeutics has signed a 15-year contract with the UK Nuclear Decommissioning Authority, securing access to up to 400 tonnes of reprocessed uranium, which will provide a sustainable raw material supply for its potential lifesaving therapies, significantly enhancing the company's R&D capabilities.
- Radioisotope Development: Through collaboration with the UK National Nuclear Laboratory, Bicycle plans to extract 228Th from the reprocessed uranium, further processing it into a 212Pb generator, with the potential to deliver tens of thousands of doses of 212Pb annually, advancing targeted cancer therapies.
- Customized Generator: Bicycle has partnered with SpectronRx to develop a bespoke 212Pb generator, with initial quantities of 212Pb successfully produced, which will provide strong support for the company's competitive position in the radiopharmaceutical market.
- Strategic Investment Outlook: The CEO of Bicycle stated that these collaborations demonstrate the company's potential in radiopharmaceutical R&D, with expectations to advance its BRC product line and present initial human imaging data in the first half of 2026, further solidifying its market position.






