BofA analyst Alec Stranahan lowered the firm’s price target on BioXcel Therapeutics (BTAI) to $1 from $4 and keeps an Underperform rating on the shares. Given current capital, even if data from the SERENITY phase 3 at-home trial for BXCL501 is positive, the firm sees a difficult path forward to effectively penetrate the large total addressable market without additional equity raises, the analyst tells investors following BioXcel’s Q4 update.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BTAI:
- BioXcel Therapeutics reports Q4 EPS ($3.57), consensus ($5.14)
- BioXcel Therapeutics initiated with a Buy at Rodman & Renshaw
- Mind Medicine appoints Matt Wiley as CCO
- BioXcel Therapeutics strengthens cash position to advance SERENITY trial
- BioXcel Therapeutics announces 33% enrollment in SERENTIY at-home Phase 3 trial