Canaccord lowered the firm’s price target on BioXcel Therapeutics to $7 from $18 and keeps a Buy rating on the shares. The firm noted they reported Q4 results and its meeting with the FDA on its ongoing trial for acute treatment of agitation in Alzheimer’s disease. Canaccord they will wiat to review the minutes and said clear articulation of a path forward is key to mitigating financial risk but moving out a potential launch and lowering its probability of approval of its Tranquility program has led to its target reduction.
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