H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Bioxcel Therapeutics today and set a price target of $5.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors tied to BioXcel Therapeutics’ core assets and valuation. He views the FDA’s acceptance of the supplemental IGALMI application, with a defined PDUFA date, as a key strategic catalyst that supports the company’s long-term growth path despite near-term uncertainties.
At the same time, his DCF-based analysis suggests that the intrinsic value of BXCL501 and BXCL701 still exceeds the current market capitalization even after factoring in debt and recent dilution. While he acknowledges execution, financing, and regulatory risks, he believes the current share price undervalues the franchise potential, justifying a Buy rating alongside a reduced $5 price target.
In another report released on March 17, Rodman & Renshaw also initiated coverage with a Buy rating on the stock with a $17.00 price target.