H.C. Wainwright analyst Ram Selvaraju has reiterated their bullish stance on BTAI stock, giving a Buy rating yesterday.
Ram Selvaraju’s Buy rating for BioXcel Therapeutics is rooted in a mix of recent patent allowances and potential market exclusivity for their drug BXCL501, coupled with anticipated clinical and regulatory milestones. The analyst emphasizes that the newly allowed patents for methods of treating agitation in Alzheimer’s and other neuropsychiatric disorders substantially reduce investment risk and strengthen the company’s position to sustain market exclusivity, particularly in the lucrative Alzheimer’s disease indication. The patents for BXCL501 are projected to provide protection until 2043, which suggests a long-term commercial advantage for BioXcel Therapeutics.
Furthermore, Selvaraju points out that the upcoming clinical trials under the TRANQUILITY and SERENITY programs are expected to yield significant data within the year. These studies could lead to label expansions for IGALMI and the approval of BXCL501 for Alzheimer’s disease, assuming positive trial outcomes. The progression of these programs, along with discussions with the FDA regarding long-term safety requirements, indicates a robust pipeline with near-term catalysts that could further validate the drug’s efficacy and safety, thereby justifying the Buy rating and a 12-month price target of $11 per share.
According to TipRanks, Selvaraju is an analyst with an average return of -0.4% and a 38.94% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Anavex Life Sciences, Genmab, and ADMA Biologics.
In another report released yesterday, Bank of America Securities also maintained a Buy rating on the stock with a $9.00 price target.
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Bioxcel Therapeutics (BTAI) Company Description:
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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