Promising Clinical Trial Results Boost Buy Rating for Bicara Therapeutics

Bicara Therapeutics Inc. (BCAX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Judah Frommer from Morgan Stanley maintained a Buy rating on the stock and has a $36.00 price target.

Judah Frommer has given his Buy rating due to a combination of factors including the promising results from Bicara Therapeutics’ recent clinical trial. The company’s Phase 1/1b study of ficerafusp alfa monotherapy in patients with advanced cSCC who had previously undergone anti-PD-1 therapy showed a significant improvement in outcomes. Specifically, 30.4% of the patients responded to the treatment, and the clinical benefit rate was 82.6%, which is a substantial improvement over the historical response rates of around 5% with chemotherapy.
Furthermore, the median progression-free survival was reported at 7 months, with a 12-month progression-free survival rate of 25.4%. These results suggest that ficerafusp alfa has the potential to outperform existing treatments and capture a significant market share. This opportunity is reflected in the estimated net present value of approximately $3 per share at a 30% probability of success within Morgan Stanley’s model, indicating a strong market potential for Bicara Therapeutics’ product beyond its current applications.

According to TipRanks, Frommer is an analyst with an average return of -6.4% and a 44.26% success rate. Frommer covers the Healthcare sector, focusing on stocks such as Galapagos, RegenXBio, and Apellis Pharmaceuticals.