Bicara Therapeutics Inc. (NASDAQ:BCAX) Receives $43.00 Average PT from Brokerages

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) have been given a consensus recommendation of “Buy” by the seven ratings firms that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $43.00.

A number of equities analysts have commented on BCAX shares. TD Cowen assumed coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They issued a “buy” rating for the company. Stifel Nicolaus initiated coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They issued a “buy” rating and a $47.00 target price for the company. HC Wainwright started coverage on Bicara Therapeutics in a research report on Friday, December 6th. They set a “buy” rating and a $42.00 price target on the stock. Rodman & Renshaw assumed coverage on Bicara Therapeutics in a research report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 price objective for the company. Finally, Cantor Fitzgerald started coverage on Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating for the company.

Bicara Therapeutics Stock Performance

NASDAQ BCAX opened at $17.42 on Thursday. The company’s 50 day simple moving average is $20.33. Bicara Therapeutics has a 52-week low of $16.01 and a 52-week high of $28.09.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14). On average, equities analysts predict that Bicara Therapeutics will post -2.59 earnings per share for the current year.

Hedge Funds Weigh In On Bicara Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. First Turn Management LLC purchased a new position in Bicara Therapeutics during the third quarter valued at $14,324,000. Vestal Point Capital LP purchased a new position in Bicara Therapeutics in the 3rd quarter valued at about $10,825,000. FMR LLC purchased a new stake in Bicara Therapeutics during the 3rd quarter worth approximately $57,913,000. Braidwell LP acquired a new position in shares of Bicara Therapeutics during the third quarter valued at approximately $42,219,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Bicara Therapeutics in the third quarter valued at approximately $9,474,000.

About Bicara Therapeutics

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.