Bicara Therapeutics Inc. (NASDAQ:BCAX) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

• Bicara Therapeutics Inc. (NASDAQ:BCAX) has received a consensus recommendation of "Buy" from ten brokerages, with an average 12-month price target of $32.25.
• The stock opened at $11.94 on Tuesday, with a market cap of $651.45 million and a P/E ratio of -3.77.
• Institutional investors have recently shown interest, with notable acquisitions from California State Teachers Retirement System and other firms boosting their stakes in the company.

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX - Get Free Report) have received a consensus rating of "Buy" from the ten analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $32.2513.

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company raised shares of Bicara Therapeutics from an "underweight" rating to an "equal weight" rating and set a $8.00 target price on the stock in a report on Friday, May 23rd. Wedbush reaffirmed an "outperform" rating and set a $30.00 target price on shares of Bicara Therapeutics in a report on Tuesday, August 12th. Wall Street Zen downgraded Bicara Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Piper Sandler started coverage on Bicara Therapeutics in a report on Monday, August 18th. They issued an "overweight" rating and a $36.00 target price on the stock. Finally, HC Wainwright lowered their price target on shares of Bicara Therapeutics from $41.00 to $40.00 and set a "buy" rating for the company in a report on Friday, August 22nd.

Institutional Investors Weigh In On Bicara Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in BCAX. California State Teachers Retirement System purchased a new stake in Bicara Therapeutics during the fourth quarter valued at about $25,000. CWM LLC bought a new position in Bicara Therapeutics in the 1st quarter worth about $29,000. Legal & General Group Plc grew its holdings in Bicara Therapeutics by 64.1% during the 2nd quarter. Legal & General Group Plc now owns 3,156 shares of the company's stock valued at $29,000 after buying an additional 1,233 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Bicara Therapeutics during the fourth quarter valued at about $32,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Bicara Therapeutics by 73.0% in the second quarter. Ameritas Investment Partners Inc. now owns 3,493 shares of the company's stock worth $32,000 after buying an additional 1,474 shares in the last quarter.

Bicara Therapeutics Stock Up 0.5%

Shares of BCAX traded up $0.06 during midday trading on Tuesday, reaching $12.06. 199,254 shares of the stock were exchanged, compared to its average volume of 581,552. The stock's 50 day simple moving average is $10.81 and its 200 day simple moving average is $11.86. Bicara Therapeutics has a twelve month low of $7.80 and a twelve month high of $28.09. The company has a market cap of $658.03 million and a P/E ratio of -3.80.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.04. As a group, analysts predict that Bicara Therapeutics will post -2.59 earnings per share for the current year.

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.