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Investing.com - TD Cowen has reiterated its Buy rating on Bicara Therapeutics Inc (NASDAQ:BCAX), maintaining its positive outlook on the biopharmaceutical company. The stock, currently trading at $14.07, has surged 32% in the past week, with analysts setting price targets ranging from $8 to $48.
The research firm cited the recent $8 billion acquisition of Merus by Genmab as validation for the emerging class of EGFR bispecific antibodies, a field in which Bicara is also active.
TD Cowen noted that the valuation gap between Bicara Therapeutics and Merus has been "far too great," suggesting potential upside for Bicara shareholders.
The firm expressed confidence in Bicara's Phase III clinical trial design, stating it believes the company's approach has demonstrated durability that could lead to a higher probability of success.
TD Cowen recommended investors own BCAX shares, positioning the company as "an attractive investment" particularly following the Merus acquisition.
In other recent news, Bicara Therapeutics has garnered attention following several analyst updates. Jones Trading initiated coverage on Bicara Therapeutics with a Buy rating, setting a price target of $22.00. The firm highlighted the potential of Bicara's bispecific antibody treatment for head and neck cancer, which has shown significant clinical benefits. Meanwhile, H.C. Wainwright adjusted its 12-month price target for Bicara to $40.00, citing increased long-term operating expenses, though it maintained a Buy rating. Piper Sandler also initiated coverage, assigning an Overweight rating with a $36.00 price target, pointing to a disconnect between market perception and expert opinion on Bicara's ficera treatment. Additionally, Rice Biotech Launch Pad announced the appointment of Carolyn Ng from TPG Life Sciences to its advisory board, enhancing its focus on medical technology innovations. These developments reflect ongoing interest and strategic movements in Bicara Therapeutics and related biotech entities.
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