Bicara Therapeutics (NASDAQ:BCAX) Trading 10.8% Higher – Still a Buy?

Bicara Therapeutics Inc. (NASDAQ:BCAX)’s share price rose 10.8% on Tuesday . The stock traded as high as $10.86 and last traded at $10.54. Approximately 41,619 shares changed hands during trading, a decline of 91% from the average daily volume of 467,094 shares. The stock had previously closed at $9.51.

Analyst Upgrades and Downgrades

BCAX has been the subject of a number of research analyst reports. HC Wainwright cut their target price on shares of Bicara Therapeutics from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.01 price objective on shares of Bicara Therapeutics in a research report on Thursday, March 13th. Wedbush reissued an “outperform” rating and issued a $31.00 price objective on shares of Bicara Therapeutics in a research note on Thursday, March 27th. Finally, Stifel Nicolaus set a $48.00 target price on Bicara Therapeutics in a research note on Thursday, March 27th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $36.50.

Bicara Therapeutics Price Performance

The company has a 50 day moving average price of $12.84 and a 200 day moving average price of $17.03.

Bicara Therapeutics (NASDAQ:BCAX) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.08). Sell-side analysts predict that Bicara Therapeutics Inc. will post -2.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bicara Therapeutics

Several institutional investors have recently modified their holdings of the business. California State Teachers Retirement System bought a new position in Bicara Therapeutics in the fourth quarter valued at approximately $25,000. Spire Wealth Management acquired a new position in shares of Bicara Therapeutics in the 4th quarter valued at $31,000. BNP Paribas Financial Markets bought a new position in shares of Bicara Therapeutics in the 4th quarter worth $32,000. Legal & General Group Plc acquired a new stake in shares of Bicara Therapeutics during the fourth quarter worth $33,000. Finally, Summit Investment Advisors Inc. bought a new stake in Bicara Therapeutics in the fourth quarter valued at about $35,000.

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.