Canaccord Genuity analyst Sumant Kulkarni maintained a Buy rating on Bioxcel Therapeutics (BTAI) yesterday and set a price target of $71.00. The company’s shares closed last Tuesday at $40.68, close to its 52-week high of $44.41.
According to TipRanks.com, Kulkarni is a 5-star analyst with an average return of 14.4% and a 49.4% success rate. Kulkarni covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co, Intra-Cellular Therapies, and Zynerba Pharmaceuticals.
Currently, the analyst consensus on Bioxcel Therapeutics is a Strong Buy with an average price target of $76.67, representing an 89.8% upside. In a report issued on April 28, H.C. Wainwright also reiterated a Buy rating on the stock with a $95.00 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.
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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 New Haven, CT.