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Bioxcel Therapeutics (BTAI) Received its Third Buy in a Row

After Canaccord Genuity and Guggenheim 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 $110.00. The company’s shares closed last Friday at $13.57, close to its 52-week low of $9.08.

According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -45.1% and a 9.6% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Santhera Pharmaceuticals Holding AG, Inovio Pharmaceuticals, and Aquestive Therapeutics.

Bioxcel Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $55.63, implying a 314.2% upside from current levels. In a report issued on May 9, Guggenheim also maintained a Buy rating on the stock with a $30.00 price target.

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Based on Bioxcel Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $31.47 million. In comparison, last year the company had a GAAP net loss of $26.38 million.

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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.

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