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 on Friday at $7.97, close to its 52-week low of $6.76.
Selvaraju commented:
“We reiterate our Buy rating and 12-month price target of $25.00 per share on BTAI.”
According to TipRanks.com, Selvaraju is a 1-star analyst with an average return of -1.5% and a 40.1% 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 a Moderate Buy with an average price target of $23.
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Based on Bioxcel Therapeutics Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.03 million. In comparison, last year the company had a GAAP net loss of $542K.
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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.