H.C. Wainwright lowered the firm’s price target on BioXcel Therapeutics (BTAI) to $3 from $5 and keeps a Buy rating on the shares. While the company’s prospects “remain intriguing, equity dilution appears substantial,” the analyst tells investors in a research note. The firm continues to consider BXCL501 an attractive asset in treatment of acute agitation for individuals with neuropsychiatric and neurodegenerative conditions, but has also taken note of BioXcel’s ongoing financial issues.
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