Bicara Therapeutics (NASDAQ:BCAX) Shares Gap Up After Analyst Upgrade

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s share price gapped up prior to trading on Monday after HC Wainwright raised their price target on the stock from $42.00 to $45.00. The stock had previously closed at $11.61, but opened at $12.03. HC Wainwright currently has a buy rating on the stock. Bicara Therapeutics shares last traded at $12.00, with a volume of 55,601 shares traded.

Several other brokerages have also recently issued reports on BCAX. Stifel Nicolaus began coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued a “buy” rating and a $47.00 price objective on the stock. Cantor Fitzgerald initiated coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating on the stock. Rodman & Renshaw assumed coverage on Bicara Therapeutics in a report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 price objective for the company. RODMAN&RENSHAW upgraded shares of Bicara Therapeutics to a “strong-buy” rating in a report on Tuesday, November 5th. Finally, TD Cowen initiated coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They issued a “buy” rating for the company. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $43.75.

Hedge Funds Weigh In On Bicara Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCAX. RA Capital Management L.P. acquired a new position in Bicara Therapeutics during the 3rd quarter worth about $177,169,000. FMR LLC purchased a new stake in Bicara Therapeutics during the third quarter worth about $57,913,000. Braidwell LP acquired a new stake in shares of Bicara Therapeutics during the third quarter worth about $42,219,000. Janus Henderson Group PLC purchased a new position in shares of Bicara Therapeutics in the third quarter valued at approximately $30,329,000. Finally, Baker BROS. Advisors LP acquired a new position in shares of Bicara Therapeutics in the third quarter valued at approximately $21,225,000.

Bicara Therapeutics Stock Performance

The business has a 50 day moving average of $16.79.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14). As a group, analysts predict that Bicara Therapeutics Inc. will post -2.59 EPS for the current year.

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.