Bicara Therapeutics (NASDAQ:BCAX) Shares Gap Up Following Analyst Upgrade

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) gapped up before the market opened on Monday after HC Wainwright raised their price target on the stock from $42.00 to $45.00. The stock had previously closed at $11.61, but opened at $12.03. HC Wainwright currently has a buy rating on the stock. Bicara Therapeutics shares last traded at $12.00, with a volume of 55,601 shares traded.

BCAX has been the topic of several other research reports. Stifel Nicolaus initiated coverage on Bicara Therapeutics in a report on Tuesday, October 8th. They set a “buy” rating and a $47.00 price target on the stock. RODMAN&RENSHAW raised Bicara Therapeutics to a “strong-buy” rating in a report on Tuesday, November 5th. Morgan Stanley began coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They set an “overweight” rating and a $35.00 price target on the stock. Rodman & Renshaw assumed coverage on shares of Bicara Therapeutics in a report on Tuesday, November 5th. They issued a “buy” rating and a $48.00 target price on the stock. Finally, Cantor Fitzgerald initiated coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating for the company. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $43.75.

Institutional Trading of Bicara Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. acquired a new position in shares of Bicara Therapeutics in the third quarter valued at approximately $177,169,000. FMR LLC acquired a new position in Bicara Therapeutics in the 3rd quarter valued at $57,913,000. Braidwell LP purchased a new position in shares of Bicara Therapeutics during the 3rd quarter worth $42,219,000. Janus Henderson Group PLC acquired a new stake in shares of Bicara Therapeutics during the third quarter worth $30,329,000. Finally, Baker BROS. Advisors LP acquired a new position in Bicara Therapeutics in the third quarter valued at $21,225,000.

Bicara Therapeutics Price Performance

The business has a 50-day moving average price of $17.08.

Bicara Therapeutics (NASDAQ:BCAX) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14). As a group, analysts expect that Bicara Therapeutics Inc. will post -2.59 EPS for the current fiscal 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.