Stifel Reaffirms Buy Rating on BCAX After Promising ASCO Data for HPV-Negative Patients

On May 24, analysts at Stifel reaffirmed their Buy rating and price target of $48 for Bicara Therapeutics Inc. (NASDAQ:BCAX).

This follows the American Society of Clinical Oncology (ASCO) releasing abstracts after the market’s close, which sparked debates regarding competing approaches to treating 1L SCCHN.

The company’s abstract provided a number of encouraging results for HPV-negative patients. These included an improved complete response (CR) rate, currently at 21%, a 12-month duration of response and overall survival (OS) of 60/61%, alongside a median overall survival (mOS) of more than 20 months.

However, analysts pointed out that Merus, a market rival, also provided impressive full ASCO data that included both HPV-positive and HPV-negative patients. That said, Stifel analysts cautioned that it may be unreliable to draw competitive conclusions from non-randomized patient groups. In light of this, Stifel advises investors to purchase BCAX stock on any price weakness and to wait for more thorough information from Bicara at the next ASCO meetings.

While we acknowledge the potential of BCAX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk.  If you are looking for an AI stock that is more promising than BCAX and that has 100x upside potential, check out our report about the cheapest AI stock.

Read More: 10 Best Stocks to Buy According to the Bill & Melinda Gates Foundation Trust and 15 Best Stocks to Buy According to Jim Simons’ Renaissance Technologies.

Disclosure: None.