UPDATE: Berenberg Starts BioXcel Therapeutics (BTAI) at Buy
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Berenberg analyst Anita Dushyanth initiates coverage on BioXcel Therapeutics (NASDAQ: BTAI) with a Buy rating and a price target of $75.00.
The analyst commented, "BioXcel Therapeutics has a proprietary EvolverAI platform technology that significantly reduces drug development timelines. The drug candidates address large markets in neuropsychiatry and immune-oncology that have high unmet medical needs. The company became public in March 2018 at USD11 and the price has since appreciated by more than 227% (USD36), versus XBI, which is up by 37%. We believe there is significant upside potential both in the near and long term for this stock."
Shares of BioXcel Therapeutics closed at $36.20 yesterday.
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