Research Analysts Issue Forecasts for BCAX FY2024 Earnings

Bicara Therapeutics Inc. (NASDAQ:BCAX) – Investment analysts at Cantor Fitzgerald decreased their FY2024 earnings per share estimates for shares of Bicara Therapeutics in a report released on Wednesday, November 13th. Cantor Fitzgerald analyst E. Schmidt now forecasts that the company will post earnings of ($2.12) per share for the year, down from their previous estimate of ($1.61). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Bicara Therapeutics’ current full-year earnings is ($2.89) per share.

BCAX has been the subject of a number of other reports. Morgan Stanley assumed coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 target price for the company. RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. TD Cowen initiated coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating for the company. Rodman & Renshaw initiated coverage on shares of Bicara Therapeutics in a report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 target price on the stock. Finally, Stifel Nicolaus began coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They issued a “buy” rating and a $47.00 target price on the stock. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $43.33.

Bicara Therapeutics Price Performance

NASDAQ:BCAX opened at $20.17 on Monday. Bicara Therapeutics has a 12-month low of $18.33 and a 12-month high of $28.09. The business has a 50-day simple moving average of $23.33.

Bicara Therapeutics (NASDAQ:BCAX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) EPS for the quarter, missing the consensus estimate of ($0.46) by ($1.14).

Insider Transactions at Bicara Therapeutics

In other Bicara Therapeutics news, major shareholder James E. Flynn bought 70,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was bought at an average price of $18.00 per share, for a total transaction of $1,260,000.00. Following the transaction, the insider now owns 897,587 shares of the company’s stock, valued at approximately $16,156,566. The trade was a 8.46 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ra Capital Management, L.P. purchased 1,833,000 shares of Bicara Therapeutics stock in a transaction dated Monday, September 16th. The stock was bought at an average price of $18.00 per share, for a total transaction of $32,994,000.00. Following the completion of the transaction, the director now directly owns 4,303,418 shares in the company, valued at $77,461,524. The trade was a 74.20 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Trading of Bicara Therapeutics

A number of hedge funds have recently modified their holdings of the company. First Turn Management LLC bought a new position in shares of Bicara Therapeutics during the third quarter worth about $14,324,000. The Manufacturers Life Insurance Company bought a new position in shares of Bicara Therapeutics during the 3rd quarter worth approximately $582,000. FMR LLC acquired a new stake in shares of Bicara Therapeutics in the third quarter valued at approximately $57,913,000. Walleye Capital LLC acquired a new position in Bicara Therapeutics during the third quarter worth $809,000. Finally, Vestal Point Capital LP acquired a new stake in Bicara Therapeutics in the 3rd quarter valued at $10,825,000.

About Bicara Therapeutics

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.