BioXcel Therapeutics price target lowered to $23 from $43 at BofA
The Fly

BioXcel Therapeutics price target lowered to $23 from $43 at BofA

BofA analyst Greg Harrison lowered the firm’s price target on BioXcel Therapeutics to $23 from $43 and keeps a Buy rating on the shares after the company disclosed trial conduct issues along with positive topline data from the phase 3 TRANQUILITY II trial evaluating BXCL501 in agitation associated with Alzheimer’s disease. The issues described in the 8-K introduce risk to ‘501’s approval in this indication and will likely remain an overhang on the stock until a resolution, says BofA, which is lowering its odds of success assumption for AD agitation to 25% from 80%.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See today’s best-performing stocks on TipRanks >>

Read More on BTAI:

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App