Bicara Therapeutics (NASDAQ:BCAX) Earns Outperform Rating from Wedbush

Bicara Therapeutics (NASDAQ:BCAX)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a research note issued to investors on Thursday,RTT News reports. They presently have a $31.00 price target on the stock. Wedbush’s target price points to a potential upside of 131.34% from the stock’s current price.

A number of other analysts also recently issued reports on the company. HC Wainwright raised their target price on Bicara Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.01 price objective on shares of Bicara Therapeutics in a report on Thursday, March 13th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $36.50.

Bicara Therapeutics Price Performance

BCAX stock opened at $13.40 on Thursday. The firm has a 50 day simple moving average of $13.04. Bicara Therapeutics has a 12-month low of $11.10 and a 12-month high of $28.09.

Bicara Therapeutics (NASDAQ:BCAX) last posted its quarterly earnings data on Thursday, March 27th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.08). Analysts anticipate that Bicara Therapeutics will post -2.59 earnings per share for the current fiscal year.

Institutional Trading of Bicara Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. RA Capital Management L.P. purchased a new position in shares of Bicara Therapeutics during the 3rd quarter valued at $177,169,000. Red Tree Management LLC purchased a new position in Bicara Therapeutics during the fourth quarter worth about $55,230,000. FMR LLC purchased a new stake in shares of Bicara Therapeutics in the 3rd quarter valued at about $57,913,000. Adage Capital Partners GP L.L.C. boosted its position in shares of Bicara Therapeutics by 171.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,175,265 shares of the company’s stock valued at $37,893,000 after acquiring an additional 1,375,265 shares during the last quarter. Finally, Braidwell LP grew its holdings in shares of Bicara Therapeutics by 20.7% during the fourth quarter. Braidwell LP now owns 2,000,659 shares of the company’s stock worth $34,851,000 after purchasing an additional 343,059 shares in the last quarter.

Bicara Therapeutics Company Profile

Bicara Therapeutics Inc, a clinical-stage biopharmaceutical company, develops bifunctional therapies for solid tumors. Its lead program is ficerafusp alfa, a bifunctional antibody that combines an epidermal growth factor receptor (EGFR) directed monoclonal antibody with a domain that binds to human transforming growth factor beta (TGF-b) for the treatment of solid tumors.