Analyst Judah Frommer from Morgan Stanley maintained a Buy rating on Bicara Therapeutics Inc. (BCAX – Research Report) and keeping the price target at $36.00.
Judah Frommer has given his Buy rating due to a combination of factors including the promising clinical progress of Bicara Therapeutics Inc. The company has initiated the pivotal Phase 2/3 FORTIFI-HN01 study for ficerafusp alfa, which is a significant step forward. The anticipated interim ORR readout in 2027 could potentially lead to accelerated approval for the treatment of 1L R/M HNSCC, marking a critical milestone for the company.
Additionally, Bicara’s financial position is strong, with a cash reserve expected to support operations until the first half of 2029. The company’s strategic plans to expand its clinical trials, including the upcoming Phase 1b expansion cohorts, further demonstrate its commitment to advancing its therapeutic pipeline. These factors, combined with the potential for improved outcomes in comparison to existing treatments, underpin Frommer’s positive outlook and Buy rating for BCAX.
In another report released yesterday, Stifel Nicolaus also maintained a Buy rating on the stock with a $48.00 price target.
BCAX’s price has also changed dramatically for the past six months – from $25.440 to $13.400, which is a -47.33% drop .