Why BioXcel Therapeutics Stock Popped Today

Shares of BioXcel Therapeutics (NASDAQ: BTAI) jumped by as much as 14.4% on Monday -- and finished the trading session up 11.7% -- thanks to a Wall Street analyst making a bullish case for the biopharmaceutical company.

UBS analyst Colin Bristow initiated coverage of BioXcel Therapeutics' stock with a buy rating and a $99 price target. The company's shares are worth $51.72 apiece after today's rally. Why does Bristow see such huge potential upside for BioXcel Therapeutics'? The answer lies with the company's leading pipeline candidate, sublingual thin film BXCL501. In a phase 3 clinical trial, BXCL501 was shown to be effective in treating acute agitation in patients with schizophrenia and bipolar disorder.

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Source Fool.com