Citizens Jmp Reiterates “Market Outperform” Rating for Bicara Therapeutics (NASDAQ:BCAX)

Bicara Therapeutics (NASDAQ:BCAX)‘s stock had its “market outperform” rating reiterated by Citizens Jmp in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $31.00 price objective on the stock. Citizens Jmp’s target price points to a potential upside of 60.08% from the stock’s previous close.

Several other research analysts have also issued reports on the company. Mizuho raised Bicara Therapeutics to a “hold” rating in a research report on Thursday, December 18th. UBS Group restated a “buy” rating on shares of Bicara Therapeutics in a research note on Wednesday, January 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Bicara Therapeutics in a report on Friday, January 9th. Citigroup began coverage on Bicara Therapeutics in a research note on Thursday, January 29th. They set an “outperform” rating on the stock. Finally, HC Wainwright lifted their price objective on Bicara Therapeutics from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday. Eight 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. Based on data from MarketBeat, Bicara Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $28.88.

Bicara Therapeutics Trading Up 1.7%

NASDAQ BCAX opened at $19.37 on Tuesday. The firm’s fifty day simple moving average is $17.15 and its two-hundred day simple moving average is $16.61. The firm has a market capitalization of $1.06 billion, a P/E ratio of -8.65 and a beta of -0.78. Bicara Therapeutics has a 12-month low of $7.80 and a 12-month high of $20.25.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings data on Monday, March 30th. The company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.04. As a group, sell-side analysts predict that Bicara Therapeutics will post -2.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider David Raben sold 16,300 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $18.52, for a total value of $301,876.00. Following the completion of the sale, the insider directly owned 55,286 shares of the company’s stock, valued at approximately $1,023,896.72. This represents a 22.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ivan Hyep sold 13,555 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $18.22, for a total value of $246,972.10. Following the transaction, the chief financial officer directly owned 145,355 shares in the company, valued at approximately $2,648,368.10. This represents a 8.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 137,969 shares of company stock worth $2,586,198.

Institutional Trading of Bicara Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vestal Point Capital LP boosted its holdings in Bicara Therapeutics by 2.0% in the 3rd quarter. Vestal Point Capital LP now owns 5,100,000 shares of the company’s stock worth $80,529,000 after acquiring an additional 100,000 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Bicara Therapeutics by 596.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,236,595 shares of the company’s stock valued at $54,472,000 after purchasing an additional 2,771,868 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Bicara Therapeutics during the fourth quarter worth $44,484,000. Vanguard Group Inc. lifted its position in shares of Bicara Therapeutics by 9.8% during the third quarter. Vanguard Group Inc. now owns 2,200,925 shares of the company’s stock worth $34,753,000 after purchasing an additional 195,667 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Bicara Therapeutics by 179.5% in the fourth quarter. State Street Corp now owns 1,649,537 shares of the company’s stock valued at $27,762,000 after purchasing an additional 1,059,260 shares during the period.

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.