Analyst Eva Fortea Verdejo from Wells Fargo maintained a Sell rating on Bicara Therapeutics Inc. (BCAX – Research Report) and keeping the price target at $8.00.
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Eva Fortea Verdejo’s rating is based on a combination of factors that suggest caution regarding Bicara Therapeutics Inc.’s stock. The anticipated updates at the ASCO conference for the ficerafusp and pembrolizumab combination in first-line head and neck squamous cell carcinoma (HNSCC) are expected to provide insights into the treatment’s durability and safety profile. However, beyond this event, there are few significant catalysts that could drive the stock’s performance.
Additionally, while the company is actively pursuing various expansion cohorts for ficerafusp in HNSCC, the ongoing enrollment and the timing of pivotal study readouts remain uncertain. The company’s cash position, while substantial, may not be sufficient to offset the lack of clarity on the future pipeline developments. This uncertainty, coupled with the stock’s underperformance compared to the broader market, contributes to the Sell rating.
Fortea Verdejo covers the Healthcare sector, focusing on stocks such as Xencor, iTeos Therapeutics, and Bicara Therapeutics Inc.. According to TipRanks, Fortea Verdejo has an average return of -6.4% and a 45.45% success rate on recommended stocks.