Bicara Therapeutics Inc. (NASDAQ:BCAX) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Bicara Therapeutics Inc. (NASDAQ:BCAX) have been assigned a consensus recommendation of “Buy” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $43.00.

BCAX has been the topic of a number of research analyst reports. TD Cowen began coverage on Bicara Therapeutics in a research report on Tuesday, October 8th. They issued a “buy” rating on the stock. Rodman & Renshaw began 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. Stifel Nicolaus began coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They issued a “buy” rating and a $47.00 target price for the company. RODMAN&RENSHAW raised shares of Bicara Therapeutics to a “strong-buy” rating in a research note on Tuesday, November 5th. Finally, HC Wainwright started coverage on shares of Bicara Therapeutics in a research note on Friday. They issued a “buy” rating and a $42.00 price objective for the company.

Bicara Therapeutics Trading Up 8.0 %

Bicara Therapeutics stock opened at $21.10 on Friday. The firm’s 50 day moving average is $21.73. Bicara Therapeutics has a 1 year low of $17.41 and a 1 year high of $28.09.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) EPS for the quarter, missing the consensus estimate of ($0.46) by ($1.14). As a group, analysts anticipate that Bicara Therapeutics will post -2.89 earnings per share for the current fiscal year.

Insider Activity at Bicara Therapeutics

In other news, Director Ra Capital Management, L.P. acquired 1,833,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was acquired at an average price of $18.00 per share, with a total value of $32,994,000.00. Following the completion of the purchase, the director now directly owns 4,303,418 shares in the company, valued at approximately $77,461,524. This trade represents a 74.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder James E. Flynn bought 70,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $1,260,000.00. Following the purchase, the insider now owns 897,587 shares of the company’s stock, valued at approximately $16,156,566. The trade was a 8.46 % increase in their position. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On Bicara Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Cinctive Capital Management LP bought a new stake in shares of Bicara Therapeutics during the third quarter valued at approximately $229,000. Barclays PLC bought a new stake in Bicara Therapeutics during the 3rd quarter valued at $255,000. Jane Street Group LLC bought a new stake in shares of Bicara Therapeutics in the third quarter valued at about $309,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Bicara Therapeutics in the 3rd quarter valued at about $358,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Bicara Therapeutics in the third quarter worth approximately $462,000.

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.