BTIG Research Begins Coverage on Bicara Therapeutics (NASDAQ:BCAX)

Analysts at BTIG Research began coverage on shares of Bicara Therapeutics (NASDAQ:BCAX) in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm set a “buy” rating and a $28.00 price target on the stock. BTIG Research’s target price suggests a potential upside of 55.99% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Wells Fargo & Company boosted their price target on shares of Bicara Therapeutics from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. Mizuho upgraded Bicara Therapeutics to a “hold” rating in a report on Thursday, December 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Bicara Therapeutics in a report on Tuesday, October 14th. Finally, Wedbush restated an “outperform” rating and set a $30.00 price target on shares of Bicara Therapeutics in a research report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Bicara Therapeutics Price Performance

NASDAQ:BCAX opened at $17.95 on Thursday. The company has a market capitalization of $983.30 million, a price-to-earnings ratio of -8.01 and a beta of -0.79. The business has a 50 day moving average of $16.96 and a 200 day moving average of $14.09. Bicara Therapeutics has a 1-year low of $7.80 and a 1-year high of $19.71.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.12). As a group, sell-side analysts anticipate that Bicara Therapeutics will post -2.59 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Ivan Hyep sold 17,795 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $18.55, for a total transaction of $330,097.25. Following the transaction, the chief financial officer owned 145,355 shares in the company, valued at $2,696,335.25. The trade was a 10.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Ryan Cohlhepp sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $18.68, for a total value of $233,500.00. Following the transaction, the chief operating officer directly owned 189,141 shares of the company’s stock, valued at $3,533,153.88. The trade was a 6.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 127,297 shares of company stock valued at $2,371,916 over the last three months. Company insiders own 15.50% of the company’s stock.

Hedge Funds Weigh In On Bicara Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in BCAX. AQR Capital Management LLC bought a new stake in Bicara Therapeutics in the first quarter valued at $248,000. Woodline Partners LP lifted its position in shares of Bicara Therapeutics by 26.5% in the 1st quarter. Woodline Partners LP now owns 348,690 shares of the company’s stock worth $4,543,000 after purchasing an additional 72,998 shares during the period. Rhumbline Advisers boosted its stake in shares of Bicara Therapeutics by 21.1% during the 1st quarter. Rhumbline Advisers now owns 23,018 shares of the company’s stock valued at $300,000 after purchasing an additional 4,010 shares in the last quarter. Atle Fund Management AB increased its position in shares of Bicara Therapeutics by 23.0% during the second quarter. Atle Fund Management AB now owns 147,380 shares of the company’s stock valued at $1,369,000 after buying an additional 27,547 shares during the period. Finally, TD Asset Management Inc increased its position in shares of Bicara Therapeutics by 71.5% during the second quarter. TD Asset Management Inc now owns 224,538 shares of the company’s stock valued at $2,086,000 after buying an additional 93,600 shares during the period.

About Bicara Therapeutics

Bicara Therapeutics is a clinical-stage biopharmaceutical company dedicated to developing novel neurohormone-based therapies for psychiatric and neurological disorders. The company’s research focuses on harnessing endogenous signaling pathways in the brain, with the goal of offering new treatment options for conditions that remain inadequately addressed by existing medications. Bicara applies proprietary peptide engineering and intranasal delivery platforms to optimize central nervous system uptake and therapeutic effect.

The company’s lead candidates include PST-001, an intranasal vasopressin-1A receptor antagonist in development for postpartum depression, and PST-002, an oxytocin receptor modulator being investigated for social anxiety and autism spectrum disorder.