Bioxcel Therapeutics, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on the stock and has a $10.00 price target.
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Ram Selvaraju has given his Buy rating due to a combination of factors including Bioxcel Therapeutics’ recent compliance with NASDAQ listing requirements and the promising outlook for its drug candidate, IGALMI™. The company has successfully regained its compliance with the market value of listed securities rule, which strengthens its position on the NASDAQ Capital Market. Additionally, the upcoming submission of a supplemental New Drug Application (sNDA) for IGALMI™ into the at-home setting is expected to proceed smoothly, supported by favorable data from the SERENITY At-Home trial.
Selvaraju also highlights the potential for Bioxcel Therapeutics to secure a label extension for IGALMI™ by the end of 2026, given the absence of FDA-approved therapies for acute agitation treatment in the at-home setting. The company’s valuation, based on a discounted cash flow assessment, suggests a total enterprise value of $300 million, translating to a price target of $10 per share. However, he notes potential risks such as trial delays, negative study results, and challenges in establishing commercial infrastructure.