BioXcel Therapeutics Receives Steady Buy Rating from Lucid Capital Markets, Price Target Unchanged at $66.00

BioXcel Therapeutics (BTAI) received a "Buy" rating from Lucid Capital Markets with a $66.00 price target. Analyst Elemer Piros reaffirmed the rating, highlighting the company's momentum and potential growth. The average one-year price target from 5 analysts is $9.40, indicating a 319.64% upside from the current price. The consensus recommendation is "Outperform" with a 2.5 rating from 4 brokerage firms.

BioXcel Therapeutics, Inc. (BTAI) has received a positive update from Lucid Capital Markets, which reaffirmed its "Buy" rating for the company's stock. The analyst, Elemer Piros, highlighted the company's momentum and potential for growth, with a price target of $66.00. This rating reflects a steady outlook on BTAI's market performance [2].

The one-year price target from five analysts averages at $9.40, indicating a significant upside of 319.64% from the current price of $2.24. This optimism is further bolstered by the consensus recommendation of "Outperform" from four brokerage firms, with an average rating of 2.5 [2].

The company's stock has been performing well, with analysts noting its favorable trial developments, particularly for its BXCL501 treatment. The Data Safety Monitoring Board (DSMB) recently approved the continuation of the SERENITY At-Home pivotal Phase 3 safety trial without modifications. This positive recommendation is a significant milestone for BTAI, as it paves the way for further clinical trials and potential market approvals [3].

BioXcel Therapeutics, Inc. is a Connecticut-based biopharmaceutical company that employs artificial intelligence to develop medicines in neuroscience and immuno-oncology. The company's use of AI in drug development positions it well in the growing AI and biotech sectors.

References:
[1] https://finance.yahoo.com/quote/BTAI/analysis/
[2] https://www.gurufocus.com/news/2978384/btai-bioxcel-therapeutics-receives-steady-buy-rating-from-lucid-capital-markets-btai-stock-news
[3] https://finance.yahoo.com/news/bioxcel-therapeutics-inc-btai-retains-232723250.html