H.C. Wainwright Sticks to Its Buy Rating for Bioxcel Therapeutics Inc


H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Bioxcel Therapeutics Inc (NASDAQ: BTAI) today and set a price target of $25. The company’s shares closed yesterday at $10.79.

Selvaraju wrote:

“We continue to expect BioXcel Therapeutics to pursue capital-efficient drug development that is focused on cost- effective clinical studies, and reiterate our Buy rating and 12-month price target of $25 on BTAI shares.”

According to TipRanks.com, Selvaraju is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -3.5% and a 39.8% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

Currently, the analyst consensus on Bioxcel Therapeutics Inc is Strong Buy and the average price target is $20.40, representing an 89.1% upside.

In a report issued on May 16, Canaccord Genuity also reiterated a Buy rating on the stock with a $21 price target.

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The company has a one-year high of $11.94 and a one-year low of $6.76. Currently, Bioxcel Therapeutics Inc has an average volume of 87.73K.

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BioXcel Therapeutics, Inc. is a clinical stage biopharmaceutical company focuses on drug development. The firm’s two clinical development programs are BXCL501, a sublingual thin film formulation designed for acute treatment of agitation resulting from neurological and psychiatric disorders, and BXCL701, an immuno-oncology agent designed for treatment of a rare form of prostate cancer and for treatment of pancreatic cancer. The company was founded by Vimal D. Mehta on March 29, 2017 and is headquartered in Branford, CT.

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