BMO Capital Markets Upgrades Bicara Therapeutics (NASDAQ:BCAX) to “Strong-Buy”

Bicara Therapeutics (NASDAQ:BCAX) was upgraded by research analysts at BMO Capital Markets to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on BCAX. Weiss Ratings restated a “sell (d-)” rating on shares of Bicara Therapeutics in a research report on Monday, July 6th. Cantor Fitzgerald restated an “overweight” rating on shares of Bicara Therapeutics in a report on Wednesday, May 27th. Wall Street Zen upgraded Bicara Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Mizuho lifted their price objective on shares of Bicara Therapeutics from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 12th. Finally, Morgan Stanley boosted their price objective on shares of Bicara Therapeutics from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.64.

Bicara Therapeutics Trading Up 3.8%

NASDAQ BCAX opened at $25.86 on Tuesday. The stock has a market cap of $1.71 billion, a PE ratio of -8.34 and a beta of -0.75. The stock’s 50 day moving average is $26.44 and its 200 day moving average is $22.02. Bicara Therapeutics has a 12 month low of $10.30 and a 12 month high of $30.99.

Bicara Therapeutics (NASDAQ:BCAX) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.82) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.82). On average, analysts forecast that Bicara Therapeutics will post -3.45 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Ivan Hyep sold 28,000 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $28.85, for a total value of $807,800.00. Following the completion of the transaction, the chief financial officer directly owned 129,855 shares of the company’s stock, valued at approximately $3,746,316.75. The trade was a 17.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Ryan Cohlhepp sold 28,214 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $28.98, for a total value of $817,641.72. Following the sale, the chief operating officer owned 182,177 shares of the company’s stock, valued at $5,279,489.46. This trade represents a 13.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 108,000 shares of company stock valued at $3,079,236 over the last 90 days. Corporate insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BCAX. UBS Group AG increased its holdings in Bicara Therapeutics by 97.4% in the 4th quarter. UBS Group AG now owns 192,191 shares of the company’s stock worth $3,235,000 after buying an additional 94,829 shares during the period. Candriam S.C.A. purchased a new position in Bicara Therapeutics in the first quarter valued at $4,750,000. Dimensional Fund Advisors LP raised its position in shares of Bicara Therapeutics by 166.9% in the first quarter. Dimensional Fund Advisors LP now owns 109,261 shares of the company’s stock worth $2,170,000 after acquiring an additional 68,327 shares during the period. Walleye Capital LLC acquired a new position in Bicara Therapeutics in the 2nd quarter worth about $10,487,000. Finally, Janus Henderson Group PLC raised its holdings in Bicara Therapeutics by 26.2% in the 1st quarter. Janus Henderson Group PLC now owns 3,339,218 shares of the company’s stock worth $66,350,000 after purchasing an additional 692,933 shares during the period.

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.