Bicara Therapeutics (NASDAQ:BCAX) Given New $37.00 Price Target at BTIG Research

Key Points

• BTIG Research lowered its price target on Bicara Therapeutics from $39 to $37 but maintained a Buy rating; the target implies 270.74% upside from the prior close.
• Analyst views are mixed, though the consensus rating is Moderate Buy with a $30.73 target. Ratings range from Strong Buy to Sell.
• Bicara reported a quarterly loss of $1.04 per share, missing the $0.82 loss expected by analysts. Shares opened at $9.98 Tuesday.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) had its price objective reduced by stock analysts at BTIG Research from $39.00 to $37.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price objective suggests a potential upside of 270.74% from the company's previous close.

A number of other analysts also recently commented on the company. Wells Fargo & Company upped their target price on Bicara Therapeutics from $16.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 12th. The Goldman Sachs Group downgraded Bicara Therapeutics from a "neutral" rating to a "sell" rating and decreased their price target for the company from $20.00 to $8.00 in a report on Friday, October 30th. Wedbush lowered their price objective on Bicara Therapeutics from $33.00 to $24.00 and set an "outperform" rating on the stock in a research report on Thursday, October 29th. Citigroup restated a "market outperform" rating on shares of Bicara Therapeutics in a research report on Tuesday. Finally, Mizuho raised their price target on shares of Bicara Therapeutics from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.73.

Bicara Therapeutics Stock Performance

NASDAQ:BCAX opened at $9.98 on Tuesday. Bicara Therapeutics has a one year low of $7.87 and a one year high of $30.99. The firm has a market cap of $660.38 million, a price-to-earnings ratio of -3.22 and a beta of -0.33. The firm's fifty day moving average is $17.89 and its two-hundred day moving average is $20.91.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last announced 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). As a group, equities research analysts predict that Bicara Therapeutics will post -3.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ryan Cohlhepp sold 17,500 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 181,641 shares in the company, valued at $4,159,578.90. The trade was a 8.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 13.80% of the company's stock.

Institutional Investors Weigh In On Bicara Therapeutics

A number of institutional investors have recently added to or reduced their stakes in BCAX. Russell Investments Group Ltd. lifted its holdings in Bicara Therapeutics by 33.3% during the third quarter. Russell Investments Group Ltd. now owns 44,425 shares of the company's stock valued at $827,000 after purchasing an additional 11,086 shares in the last quarter. Nan Fung Trinity HK Ltd. raised its position in shares of Bicara Therapeutics by 49.9% during the 3rd quarter. Nan Fung Trinity HK Ltd. now owns 427,885 shares of the company's stock worth $7,963,000 after purchasing an additional 142,390 shares during the last quarter. Alps Advisors Inc. lifted its stake in Bicara Therapeutics by 32.5% in the 3rd quarter. Alps Advisors Inc. now owns 87,692 shares of the company's stock valued at $1,632,000 after buying an additional 21,510 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Bicara Therapeutics in the 3rd quarter worth about $63,000. Finally, Profund Advisors LLC boosted its holdings in Bicara Therapeutics by 7.2% in the 3rd quarter. Profund Advisors LLC now owns 16,880 shares of the company's stock worth $314,000 after buying an additional 1,140 shares during the last quarter.

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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