Analyst Judah Frommer of Morgan Stanley maintained a Buy rating on Bicara Therapeutics Inc., retaining the price target of $36.00.
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Judah Frommer has given his Buy rating due to a combination of factors related to Bicara Therapeutics’ recent data presentation. The company shared promising results from their Phase 1/1b expansion cohort study, which evaluated the efficacy of ficerafusp alfa at a 750mg dosage combined with pembrolizumab in HPV-negative first-line recurrent/metastatic head and neck squamous cell carcinoma (HNSCC). The data indicated that TGF-beta inhibition might lead to deeper and more durable responses, particularly at higher dosages.
While the study’s small sample size and cohort differences present some limitations, the overall findings support the potential of TGF-beta inhibition in enhancing treatment outcomes. Bicara Therapeutics plans to finalize the optimal dose for their upcoming Phase 2/3 FORTIFI-HN01 study by the first quarter of 2026. These developments, along with the comparable overall response rates between the 750mg and 1500mg dosages, underpin Frommer’s positive outlook on the company’s future prospects.
In another report released on December 1, Piper Sandler also maintained a Buy rating on the stock with a $36.00 price target.