Bicara Therapeutics initiated with an Outperform at Wedbush

Wedbush analyst David Nierengarten last night initiated coverage of Bicara Therapeutics (BCAX) with an Outperform rating and $31 price target The firm views the shares as an opportunity to own a “compelling program” in immuno-oncology with several near-term catalysts. The company’s lead asset ficerafusp alfa is a first-in-class bifunctional EGFR x TGF-beta directed antibody that is “largely de-risked given the promising data” generated in multiple EGFR mutated solid tumor indications, the analyst tells investors in a research note. Wedbush is positive on the shares at current levels as Bicara advances ficerafusp alfa through its pivotal study.