RBC Capital Markets has downgraded Bicycle Therapeutics (BCYC) from "outperform" to "sector perform," citing delays in its pipeline programs. The bank reduced its price target for the stock to $11 from $27, reflecting a potential 36% upside from the October 31 closing price. Analyst Leonid Timashev highlighted setbacks in the development of zelenectide pevedotin, which is in phase 2/3 trials for metastatic urothelial cancer, with dose selection now deferred to Q1 2026. Peak sales projections for the drug have been lowered to $800 million from $1.1 billion.
https://www.gurufocus.com/news/3176301/bicycle-therapeutics-bcyc-downgraded-by-rbc-capital-on-delays
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