Bicara Therapeutics initiated with a Buy at Stifel

Stifel initiated coverage of Bicara Therapeutics with a Buy rating and $47 price target The firm says data from a Phase 1b dose-expansion trial evaluating the combination of ficerafusp alfa and pembrolizumab in first-line metastatic squamous cell carcinoma of the head and neck “demonstrate potentially best-in-class clinical outcomes.” The analyst believes the stock’s current valuation does not reflect the “scarcity value associated with having a clear line of sight” into becoming a standard-of-care within a multi-billion dollar solid tumor indication.