Shares of BioXcel Therapeutics (NASDAQ:BTAI) jumped by as significantly as 14.4% on Monday — and completed the trading session up 11.7% — many thanks to a Wall Street analyst making a bullish scenario for the biopharmaceutical enterprise.
UBS analyst Colin Bristow initiated protection of BioXcel Therapeutics’ stock with a get rating and a $99 rate goal. The company’s shares are worth $51.72 apiece right after modern rally. Why does Bristow see such large opportunity upside for BioXcel Therapeutics’? The response lies with the firm’s leading pipeline applicant, sublingual skinny film BXCL501. In a phase 3 clinical demo, BXCL501 was shown to be helpful in dealing with acute agitation in individuals with schizophrenia and bipolar disorder.
Even though BioXcel Therapeutics at this time has no solutions on the market place, Bristow thinks that its present-day inventory price tag is supported by BXCL501’s chance in treating clients with these two psychological problems. Having said that, the analyst sees an even even larger upside for the stock in a further marketplace. BXCL501 is also being investigated as a treatment for acute agitation in individuals with dementia, an prospect that exceeds the schizophrenia and bipolar dysfunction marketplaces merged.
It is constantly clever to acquire analyst recommendations with a grain of salt. But for what it is really worth, Bristow is on to a thing, at the very least in my watch. BXCL501’s probable does look really enticing. What’s extra, BioXcel Therapeutics currently has a sector cap of only $1.26 billion, and that is after the firm’s shares attained 211.5% in excess of the previous 12 months. In other text, it is undoubtedly truly worth maintaining an eye on this healthcare stock.