Cantor Fitzgerald Issues Negative Estimate for BCAX Earnings

Bicara Therapeutics Inc. (NASDAQ:BCAX) – Stock analysts at Cantor Fitzgerald cut their FY2024 earnings estimates for Bicara Therapeutics in a research note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst E. Schmidt now forecasts that the company will post earnings of ($2.12) per share for the year, down from their prior forecast 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 posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($1.14).

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

Bicara Therapeutics Stock Down 4.8 %

BCAX stock 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 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 shares were purchased at an average cost of $18.00 per share, with a total value of $32,994,000.00. Following the acquisition, the director now directly owns 4,303,418 shares in the company, valued at $77,461,524. This represents a 74.20 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder James E. Flynn acquired 70,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were 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 directly owns 897,587 shares in the company, valued at approximately $16,156,566. This trade represents a 8.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Walleye Capital LLC bought a new stake in Bicara Therapeutics during the third quarter worth about $809,000. Soros Fund Management LLC acquired a new position in shares of Bicara Therapeutics in the 3rd quarter valued at approximately $509,000. RA Capital Management L.P. bought a new stake in shares of Bicara Therapeutics during the 3rd quarter worth approximately $177,169,000. Point72 DIFC Ltd acquired a new stake in shares of Bicara Therapeutics during the 3rd quarter worth approximately $1,420,000. Finally, Maven Securities LTD acquired a new stake in shares of Bicara Therapeutics during the 3rd quarter worth approximately $1,274,000.

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.