Bicara Therapeutics (NASDAQ:BCAX) Rating Increased to Strong-Buy at BTIG Research

BTIG Research upgraded shares of Bicara Therapeutics (NASDAQ:BCAX) to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

BCAX has been the subject of several other reports. Wedbush reiterated an “outperform” rating and set a $30.00 price objective on shares of Bicara Therapeutics in a research report on Monday, November 10th. Mizuho upgraded Bicara Therapeutics to a “hold” rating in a report on Thursday, December 18th. Wells Fargo & Company lifted their price objective on Bicara Therapeutics from $8.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Bicara Therapeutics in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Bicara Therapeutics has an average rating of “Moderate Buy” and an average price target of $28.00.

Bicara Therapeutics Price Performance

Shares of BCAX opened at $16.56 on Thursday. The business has a 50-day moving average of $16.92 and a 200-day moving average of $14.03. The company has a market capitalization of $907.16 million, a price-to-earnings ratio of -7.39 and a beta of -0.79. Bicara Therapeutics has a 1 year low of $7.80 and a 1 year high of $19.71.

Bicara Therapeutics (NASDAQ:BCAX) last released its earnings results on Monday, November 10th. The company reported ($0.67) earnings per share 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.

Insider Activity at Bicara Therapeutics

In related news, COO Ryan Cohlhepp sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $18.68, for a total transaction of $233,500.00. Following the transaction, the chief operating officer directly owned 189,141 shares of the company’s stock, valued at approximately $3,533,153.88. This represents a 6.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Raben sold 5,500 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $18.45, for a total value of $101,475.00. Following the completion of the transaction, the insider owned 35,497 shares in the company, valued at approximately $654,919.65. The trade was a 13.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 127,297 shares of company stock worth $2,371,916 over the last three months. 15.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bicara Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of BCAX. AQR Capital Management LLC bought a new position in shares of Bicara Therapeutics in the 1st quarter worth $248,000. Woodline Partners LP increased its stake in Bicara Therapeutics by 26.5% during the 1st quarter. Woodline Partners LP now owns 348,690 shares of the company’s stock valued at $4,543,000 after purchasing an additional 72,998 shares in the last quarter. Rhumbline Advisers raised its holdings in Bicara Therapeutics by 21.1% during the first quarter. Rhumbline Advisers now owns 23,018 shares of the company’s stock worth $300,000 after buying an additional 4,010 shares during the last quarter. Atle Fund Management AB lifted its stake in shares of Bicara Therapeutics by 23.0% in 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 in the last quarter. Finally, TD Asset Management Inc grew its holdings 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 last quarter.

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.