After Canaccord Genuity and BMO Capital gave Bioxcel Therapeutics (NASDAQ: BTAI) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Ram Selvaraju reiterated a Buy rating on Bioxcel Therapeutics today and set a price target of $95.00. The company’s shares closed last Monday at $16.11.
According to TipRanks.com, Selvaraju has currently no stars on a ranking scale of 0-5 stars, with an average return of -21.2% and a 17.2% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries, Biospecifics Technologies, and Springworks Therapeutics.
Currently, the analyst consensus on Bioxcel Therapeutics is a Strong Buy with an average price target of $75.67, representing a 366.8% upside. In a report issued on March 9, BMO Capital also maintained a Buy rating on the stock with a $64.00 price target.
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Based on Bioxcel Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $8.28 million. In comparison, last year the company had a GAAP net loss of $7.08 million.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BTAI in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
BioXcel Therapeutics, Inc. is a clinical stage biopharmaceutical company, which 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 New Haven, CT.
