Bicara Therapeutics (NASDAQ:BCAX) Given New $36.00 Price Target at HC Wainwright

Key Points

• HC Wainwright lowered its price target on Bicara Therapeutics from $42 to $36 but maintained a Buy rating; the new target implies 253.63% upside from the prior close.
• Analyst views are mixed, though the consensus is Moderate Buy with an average price target of $30.33. Ratings include 13 Buy or Strong Buy, three Hold, and two Sell recommendations.
• Bicara reported a quarterly loss of $1.04 per share, missing analysts’ estimate of a $0.82 loss. Shares opened at $10.18, well below their 50-day moving average of $17.63.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) had its price target cut by investment analysts at HC Wainwright from $42.00 to $36.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price target points to a potential upside of 253.63% from the stock's previous close.

Several other research firms have also commented on BCAX. Weiss Ratings reiterated a "sell (d-)" rating on shares of Bicara Therapeutics in a research note on Friday, October 2nd. HSBC downgraded Bicara Therapeutics to an "equal weight" rating in a research report on Tuesday, September 22nd. Morgan Stanley decreased their price target on Bicara Therapeutics from $41.00 to $30.00 and set an "overweight" rating on the stock in a research note on Tuesday. Stifel Nicolaus lowered their price target on Bicara Therapeutics from $45.00 to $43.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Benchmark reaffirmed a "buy" rating on shares of Bicara Therapeutics in a research note on Thursday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Bicara Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $30.33.

Bicara Therapeutics Stock Performance

Shares of NASDAQ BCAX opened at $10.18 on Wednesday. Bicara Therapeutics has a 1 year low of $7.87 and a 1 year high of $30.99. The firm's 50 day moving average price is $17.63 and its 200 day moving average price is $20.88.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last issued its quarterly earnings results on Monday, November 9th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.22). On average, equities research analysts forecast that Bicara Therapeutics will post -3.49 earnings per share for the current fiscal year.

Insider Activity at Bicara Therapeutics

In related news, CEO Ryan Cohlhepp sold 17,500 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $22.90, for a total value of $400,750.00. Following the transaction, the chief executive officer directly owned 181,641 shares of the company's stock, valued at approximately $4,159,578.90. This trade represents a 8.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 13.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bicara Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its holdings in shares of Bicara Therapeutics by 457.0% in the 3rd quarter. Sterling Capital Management LLC now owns 1,387 shares of the company's stock worth $26,000 after purchasing an additional 1,138 shares during the period. Profund Advisors LLC grew its holdings in shares of Bicara Therapeutics by 7.2% during the 3rd quarter. Profund Advisors LLC now owns 16,880 shares of the company's stock worth $314,000 after purchasing an additional 1,140 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of Bicara Therapeutics by 15.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 12,074 shares of the company's stock worth $224,000 after purchasing an additional 1,617 shares during the period. Quantinno Capital Management LP increased its position in Bicara Therapeutics by 16.1% during the 1st quarter. Quantinno Capital Management LP now owns 17,612 shares of the company's stock worth $350,000 after purchasing an additional 2,447 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Bicara Therapeutics during the 3rd quarter worth approximately $63,000.

Bicara Therapeutics Company Profile

Bicara Therapeutics is a clinical-stage biopharmaceutical company developing treatments for solid tumors. Its research focuses on therapies designed to target cancer cells while also addressing features of the tumor environment that can suppress immune responses. The company's lead investigational program, ficerafusp alfa (BCA101), is a bifunctional antibody designed to bind EGFR, a protein found on some tumor cells, and block TGF-beta, a signaling protein that can contribute to tumor growth and immune suppression.

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