FY2024 EPS Estimate for Bicara Therapeutics Cut by Analyst

Bicara Therapeutics Inc. (NASDAQ:BCAX) – Analysts at Cantor Fitzgerald lowered their FY2024 earnings per share (EPS) estimates for Bicara Therapeutics in a note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst E. Schmidt now expects that the company will earn ($2.12) per share for the year, down from their previous estimate of ($1.61). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Bicara Therapeutics’ current full-year earnings is ($2.89) per share.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14).

A number of other analysts have also recently issued reports on BCAX. Rodman & Renshaw began coverage on Bicara Therapeutics in a research report on Tuesday, November 5th. They set a “buy” rating and a $48.00 price objective on the stock. Stifel Nicolaus assumed coverage on shares of Bicara Therapeutics in a report on Tuesday, October 8th. They issued a “buy” rating and a $47.00 price target on the stock. Morgan Stanley assumed coverage on shares of Bicara Therapeutics in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $35.00 price objective for the company. TD Cowen started coverage on shares of Bicara Therapeutics in a research report on Tuesday, October 8th. They set a “buy” rating on the stock. Finally, RODMAN&RENSHAW raised shares of Bicara Therapeutics to a “strong-buy” rating in a research report on Tuesday, November 5th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bicara Therapeutics has an average rating of “Buy” and an average target price of $43.33.

Bicara Therapeutics Price Performance

NASDAQ BCAX opened at $19.20 on Monday. Bicara Therapeutics has a twelve month low of $18.33 and a twelve month high of $28.09. The company has a 50-day moving average of $23.33.

Insider Activity

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

Institutional Investors Weigh In On Bicara Therapeutics

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