Wedbush Reaffirms Outperform Rating for Bicara Therapeutics (NASDAQ:BCAX)

Bicara Therapeutics (NASDAQ:BCAX)‘s stock had its “outperform” rating reiterated by equities research analysts at Wedbush in a report released on Wednesday,Benzinga reports. They currently have a $31.00 target price on the stock. Wedbush’s price objective indicates a potential upside of 136.28% from the stock’s current price.

Several other analysts also recently weighed in on the company. HC Wainwright lifted their target price on Bicara Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Rodman & Renshaw assumed coverage on Bicara Therapeutics in a research report on Tuesday, November 5th. They set a “buy” rating and a $48.00 target price for the company. Finally, RODMAN&RENSHAW upgraded Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Bicara Therapeutics presently has an average rating of “Buy” and a consensus target price of $41.20.

Bicara Therapeutics Stock Down 0.8 %

NASDAQ:BCAX opened at $13.12 on Wednesday. Bicara Therapeutics has a twelve month low of $11.10 and a twelve month high of $28.09. The stock’s fifty day simple moving average is $15.27.

Bicara Therapeutics (NASDAQ:BCAX) last released its earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($1.14). On average, sell-side analysts anticipate that Bicara Therapeutics will post -2.59 earnings per share for the current year.

Hedge Funds Weigh In On Bicara Therapeutics

Several institutional investors have recently made changes to their positions in the company. Spire Wealth Management purchased a new position in shares of Bicara Therapeutics during the fourth quarter valued at $31,000. Legal & General Group Plc purchased a new position in Bicara Therapeutics in the fourth quarter valued at about $33,000. Ameritas Investment Partners Inc. purchased a new position in Bicara Therapeutics in the fourth quarter valued at about $35,000. Cinctive Capital Management LP grew its stake in Bicara Therapeutics by 88.7% in the fourth quarter. Cinctive Capital Management LP now owns 16,984 shares of the company’s stock valued at $296,000 after purchasing an additional 7,983 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Bicara Therapeutics in the fourth quarter valued at about $147,000.

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.