Why BioXcel Therapeutics Stock Triumphed This Week
Investors were good to BioXcel Therapeutics (NASDAQ: BTAI) stock this week, particularly after a top-shelf investment bank upgraded its recommendation on the shares. All told, in the Monday to Friday trading period, the company's stock price rose by more than 16%, according to data compiled by S&P Global Market Intelligence.
That upgrade hit the headlines early Thursday morning after which investors enthusiastically piled into BioXcel. The upgrader was Goldman Sachs' (NYSE: GS) Corinne Jenkins, who now feels the stock is neutral. Previously, her recommendation was sell. Jenkins also upped her price target to $16 per share, quite some distance ahead of her previous $10.
BioXcel is an ambitious biotech focusing on neuroscience and immuno-oncology treatments. In April it received its first drug approval, for its Igalmi anti-anxiety product that treats patients with bipolar disorder and schizophrenia.
Source Fool.com
