Cautious Outlook on Bicara Therapeutics Inc. Amid Efficacy and Safety Concerns for Ficerafusp

Wells Fargo analyst Eva Fortea Verdejo maintained a Sell rating on Bicara Therapeutics Inc. (BCAX – Research Report) yesterday and set a price target of $8.00.

Eva Fortea Verdejo has given her Sell rating due to a combination of factors affecting Bicara Therapeutics Inc. The recent data updates for ficerafusp at the AACR 2025 were seen as informative, but not sufficient to enhance the current model’s outlook. The efficacy data for ficerafusp in cSCC showed a decrease in the overall response rate, which raises concerns about its potential effectiveness.
Moreover, safety data revealed significant adverse effects, with a high percentage of patients experiencing serious treatment-related adverse events, which could impact the drug’s marketability. Additionally, the lack of detailed future plans for ficerafusp in cSCC contributes to the uncertainty surrounding the company’s prospects. With the stock already underperforming compared to the XBI index, the anticipated data from the upcoming ASCO 2025 is seen as a critical catalyst, but until then, the stock is expected to remain stagnant. These elements combined lead to a cautious outlook, justifying the Sell rating.

BCAX’s price has also changed moderately for the past six months – from $22.350 to $14.810, which is a -33.74% drop .