Bicara Therapeutics (NASDAQ:BCAX) Given New $40.00 Price Target at HC Wainwright

Key Points

• HC Wainwright has lowered its price target for Bicara Therapeutics (NASDAQ:BCAX) from $41.00 to $40.00, while maintaining a "buy" rating, indicating a potential upside of 243.94% from the stock's previous close.
• Several brokerages have provided mixed ratings, with Wall Street Zen downgrading the stock to "sell," while Piper Sandler initiated coverage with an "overweight" rating and a $36.00 target price.
• Bicara Therapeutics has a current market cap of $634.53 million and reported earnings of ($0.50) per share, exceeding analysts' expectations of ($0.54).

Bicara Therapeutics (NASDAQ:BCAX - Free Report) had its target price trimmed by HC Wainwright from $41.00 to $40.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

BCAX has been the topic of several 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. Wedbush reissued an "outperform" rating and issued a $30.00 price objective 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 report on Thursday, May 22nd. Finally, Piper Sandler assumed coverage on Bicara Therapeutics in a report on Monday, August 18th. They issued an "overweight" rating and a $36.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $32.25.

Bicara Therapeutics Price Performance

Shares of BCAX stock traded down $0.52 during trading hours on Friday, reaching $11.32. 139,871 shares of the stock were exchanged, compared to its average volume of 594,680. The firm has a market capitalization of $617.62 million and a P/E ratio of -3.57. Bicara Therapeutics has a 12-month low of $7.80 and a 12-month high of $28.09. The business's fifty day moving average is $10.41 and its two-hundred day moving average is $11.91.

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

Hedge Funds Weigh In On Bicara Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Vestal Point Capital LP raised its holdings in shares of Bicara Therapeutics by 80.6% during the 2nd quarter. Vestal Point Capital LP now owns 5,000,000 shares of the company's stock valued at $46,450,000 after buying an additional 2,231,025 shares during the period. Red Tree Management LLC purchased a new stake in shares of Bicara Therapeutics during the 4th quarter valued at about $55,230,000. Adage Capital Partners GP L.L.C. raised its holdings 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 buying an additional 1,375,265 shares during the period. Braidwell LP raised its holdings 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 buying an additional 162,144 shares during the period. Finally, Deep Track Capital LP increased its holdings in Bicara Therapeutics by 151.0% during the 4th quarter. Deep Track Capital LP now owns 2,000,000 shares of the company's stock worth $34,840,000 after purchasing an additional 1,203,148 shares during the last quarter.

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.