Morgan Stanley Adjusts Bicycle Therapeutics (BCYC) Outlook Following Strategic Pipeline Refocus
Morgan Stanley has lowered its price target for Bicycle Therapeutics (BCYC) to $12 from $13, maintaining an Equal Weight rating, following the company's decision to refocus its pipeline strategy. The update also reflects a 30% workforce reduction and recent financial results showing increased R&D and G&A expenses, along with a widened net loss.
Topics: biotech financial results Morgan Stanley pipeline refocus stock outlook workforce reduction