Wedbush Reiterates “Outperform” Rating for Bicara Therapeutics (NASDAQ:BCAX)

Bicara Therapeutics (NASDAQ:BCAX)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $30.00 price objective on the stock. Wedbush’s target price would suggest a potential upside of 66.48% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bicara Therapeutics in a research report on Friday, January 9th. Mizuho upgraded Bicara Therapeutics to a “hold” rating in a research note on Thursday, December 18th. Wells Fargo & Company upped their target price on Bicara Therapeutics from $8.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. Finally, BTIG Research started coverage on Bicara Therapeutics in a report on Thursday, January 8th. They set a “buy” rating and a $28.00 price target on the stock. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $28.00.

Bicara Therapeutics Trading Up 2.8%

NASDAQ BCAX opened at $18.02 on Tuesday. The business has a fifty day simple moving average of $17.12 and a 200 day simple moving average of $14.31. Bicara Therapeutics has a 12 month low of $7.80 and a 12 month high of $19.71. The firm has a market capitalization of $987.14 million, a P/E ratio of -8.04 and a beta of -0.79.

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

Insider Buying and Selling at Bicara Therapeutics

In other Bicara Therapeutics news, COO Ryan Cohlhepp sold 12,500 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $18.05, for a total value of $225,625.00. Following the sale, the chief operating officer owned 193,641 shares of the company’s stock, valued at $3,495,220.05. This trade represents a 6.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David Raben sold 5,500 shares of Bicara Therapeutics stock in a transaction on Monday, November 24th. The stock was sold at an average price of $18.45, for a total transaction of $101,475.00. Following the sale, the insider directly owned 35,497 shares of the company’s stock, valued at $654,919.65. This represents a 13.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 90,063 shares of company stock valued at $1,678,012 in the last quarter. Corporate insiders own 15.50% of the company’s stock.

Hedge Funds Weigh In On Bicara Therapeutics

Large investors have recently added to or reduced their stakes in the business. Vestal Point Capital LP lifted its stake in Bicara Therapeutics by 80.6% in the second quarter. Vestal Point Capital LP now owns 5,000,000 shares of the company’s stock worth $46,450,000 after purchasing an additional 2,231,025 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Bicara Therapeutics by 2,351.0% during the second quarter. Bank of America Corp DE now owns 451,228 shares of the company’s stock valued at $4,192,000 after buying an additional 432,818 shares during the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Bicara Therapeutics in the second quarter worth about $3,742,000. Schroder Investment Management Group lifted its stake in shares of Bicara Therapeutics by 921.0% in the 2nd quarter. Schroder Investment Management Group now owns 425,341 shares of the company’s stock valued at $3,951,000 after acquiring an additional 383,681 shares during the last quarter. Finally, Nan Fung Trinity HK Ltd. bought a new stake in shares of Bicara Therapeutics in the 2nd quarter valued at about $3,185,000.

Bicara Therapeutics Company Profile

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.