Wedbush Forecasts Stronger Earnings for Bicara Therapeutics

Bicara Therapeutics Inc. (NASDAQ:BCAX - Free Report) - Wedbush increased their FY2028 earnings estimates for shares of Bicara Therapeutics in a note issued to investors on Sunday, April 27th. Wedbush analyst D. Nierengarten now forecasts that the company will earn ($2.06) per share for the year, up from their prior forecast of ($2.17). Wedbush currently has a "Outperform" rating and a $31.00 target price on the stock. The consensus estimate for Bicara Therapeutics' current full-year earnings is ($2.59) per share.

A number of other research analysts have also recently issued reports on the stock. Wells Fargo & Company started coverage on shares of Bicara Therapeutics in a report on Thursday, April 17th. They set an "underweight" rating and a $8.00 price objective for the company. HC Wainwright cut their price target on Bicara Therapeutics from $45.00 to $44.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Stifel Nicolaus set a $48.00 price objective on Bicara Therapeutics in a report on Thursday, March 27th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $13.01 target price on shares of Bicara Therapeutics in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Bicara Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $32.43.

Bicara Therapeutics Stock Performance

NASDAQ BCAX traded down $0.21 during mid-day trading on Wednesday, hitting $14.50. The company's stock had a trading volume of 728,148 shares, compared to its average volume of 480,490. The company's 50 day simple moving average is $12.94 and its 200 day simple moving average is $15.91. Bicara Therapeutics has a twelve month low of $8.91 and a twelve month high of $28.09.

Bicara Therapeutics (NASDAQ:BCAX - Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($0.39) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.08).

Hedge Funds Weigh In On Bicara Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Red Tree Management LLC bought a new position in shares of Bicara Therapeutics during the 4th quarter worth $55,230,000. Adage Capital Partners GP L.L.C. boosted its position in Bicara Therapeutics by 171.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,175,265 shares of the company's stock worth $37,893,000 after purchasing an additional 1,375,265 shares during the period. Braidwell LP increased its stake in shares of Bicara Therapeutics by 20.7% in the fourth quarter. Braidwell LP now owns 2,000,659 shares of the company's stock worth $34,851,000 after purchasing an additional 343,059 shares in the last quarter. Deep Track Capital LP raised its position in shares of Bicara Therapeutics by 151.0% in the fourth quarter. Deep Track Capital LP now owns 2,000,000 shares of the company's stock valued at $34,840,000 after purchasing an additional 1,203,148 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Bicara Therapeutics by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,547,180 shares of the company's stock valued at $26,953,000 after purchasing an additional 8,246 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.