Bicara Therapeutics (NASDAQ:BCAX) Earns Outperform Rating from Wedbush

Key Points

• Wedbush reissued its "outperform" rating for Bicara Therapeutics (NASDAQ:BCAX) with a price target of $30.00, suggesting a potential upside of 183.42% from its previous close.
• Despite positive ratings from some analysts, the stock experienced a disappointing EPS report of ($0.68), which was below the consensus estimate of ($0.40).
• Institutional interest has intensified, with Red Tree Management acquiring a new position valued at $55.23 million and Vestal Point Capital increasing its holdings by 290% during recent quarters.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report)'s stock had its "outperform" rating reissued by equities researchers at Wedbush in a note issued to investors on Tuesday,RTT News reports. They presently have a $30.00 price target on the stock. Wedbush's target price indicates a potential upside of 183.42% from the stock's previous close.

BCAX has been the topic of a number of other reports. Wells Fargo & Company upgraded shares of Bicara Therapeutics from an "underweight" rating to an "equal weight" rating and set a $8.00 price target on the stock in a research note on Friday, May 23rd. HC Wainwright reduced their price target on shares of Bicara Therapeutics from $44.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Finally, Wall Street Zen downgraded shares of Bicara Therapeutics from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $31.86.

Bicara Therapeutics Price Performance

BCAX stock traded up $0.60 during mid-day trading on Tuesday, hitting $10.59. The stock had a trading volume of 164,032 shares, compared to its average volume of 611,115. Bicara Therapeutics has a 52 week low of $7.80 and a 52 week high of $28.09. The firm has a fifty day simple moving average of $10.43 and a 200 day simple moving average of $11.97.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.28). On average, analysts anticipate that Bicara Therapeutics will post -2.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Red Tree Management LLC acquired a new position in shares of Bicara Therapeutics during the 4th quarter valued at $55,230,000. Vestal Point Capital LP lifted its position in shares of Bicara Therapeutics by 290.0% during the 1st quarter. Vestal Point Capital LP now owns 2,768,975 shares of the company's stock valued at $36,080,000 after acquiring an additional 2,058,975 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in shares of Bicara Therapeutics by 171.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,175,265 shares of the company's stock valued at $37,893,000 after acquiring an additional 1,375,265 shares during the period. Braidwell LP lifted its position in shares of Bicara Therapeutics by 8.1% during the 1st quarter. Braidwell LP now owns 2,162,803 shares of the company's stock valued at $28,181,000 after acquiring an additional 162,144 shares during the period. Finally, Deep Track Capital LP lifted its position in shares of Bicara Therapeutics by 151.0% during the 4th quarter. Deep Track Capital LP now owns 2,000,000 shares of the company's stock valued at $34,840,000 after acquiring an additional 1,203,148 shares during the period.

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.

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