HC Wainwright Lowers Bicara Therapeutics (NASDAQ:BCAX) Price Target to $40.00

Bicara Therapeutics (NASDAQ:BCAX) had its target price cut by analysts at HC Wainwright from $41.00 to $40.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 237.84% from the stock’s previous close.

A number of other brokerages have also recently issued reports on BCAX. Wedbush reissued an “outperform” rating and set a $30.00 price objective on shares of Bicara Therapeutics in a report on Tuesday, August 12th. Piper Sandler initiated coverage on Bicara Therapeutics in a report on Monday, August 18th. They set an “overweight” rating and a $36.00 price objective on the stock. Wells Fargo & Company raised Bicara Therapeutics from an “underweight” rating to an “equal weight” rating and set a $8.00 price objective on the stock in a report on Friday, May 23rd. Finally, Wall Street Zen cut Bicara Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $32.25.

Bicara Therapeutics Price Performance

Shares of NASDAQ BCAX opened at $11.84 on Friday. Bicara Therapeutics has a one year low of $7.80 and a one year high of $28.09. The business’s fifty day moving average price is $10.41 and its 200-day moving average price is $11.91. The stock has a market capitalization of $645.99 million and a PE ratio of -3.74.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.04. As a group, equities analysts expect that Bicara Therapeutics will post -2.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Bicara Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased its stake in Bicara Therapeutics by 28.7% in the 4th quarter. Millennium Management LLC now owns 385,406 shares of the company’s stock worth $6,714,000 after acquiring an additional 85,847 shares during the last quarter. Northern Trust Corp bought a new position in Bicara Therapeutics in the 4th quarter worth about $2,771,000. Deutsche Bank AG bought a new position in Bicara Therapeutics in the 4th quarter worth about $1,959,000. Legal & General Group Plc bought a new position in Bicara Therapeutics in the 4th quarter worth about $33,000. Finally, Bank of America Corp DE increased its position in shares of Bicara Therapeutics by 278.4% during the 4th quarter. Bank of America Corp DE now owns 33,677 shares of the company’s stock valued at $587,000 after purchasing an additional 24,777 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.