Why BioXcel Therapeutics Was a Winner This Week
Neuroscience and immuno-oncology drugs specialist BioXcel Therapeutics (NASDAQ: BTAI) was a stock on the move this week. Happily, that direction of movement was upwards, as according to data provided by S&P Global Market Intelligence the shares gained nearly 14% this week. A board of directors appointment and a new, bullish analyst note were two key reasons for this.
On Tuesday -- the first day of the trading week because of Monday's July 4th holiday -- BioXcel announced that it had appointed Michael Miller to its board of directors. Miller is a seasoned healthcare industry veteran, with a long resume that most recently included a stretch as executive vice president of U.S. commercial at Jazz Pharmaceuticals.
The following day, Mizuho Securities initiated coverage on BioXcel stock. Happily for the company, analyst Graig Suvannavejh has a positive take on its prospects. He has slapped a buy recommendation on the shares, at a target price of $19 apiece.
Source Fool.com
