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Biotie Therapies Oyj Upgraded by Zacks to Hold (BITI)

Biotie Therapies Oyj Upgraded by Zacks to Hold (BITI)

By
Published: 7 October 2015

ZIMBABWE – Biotie Therapies Oyj (NASDAQ:BITI) was upgraded by Zacks from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports.

According to Zacks, “Biotie Therapies Corp. is a drug development company. The company focuses on the development of drugs for neurodegenerative and psychiatric disorders. Its product portfolio comprises Selincro an orally administered opioid receptor ligand applied in the alcohol dependence therapy; Tozadenant is an oral potent and selective adenosine receptor antagonist for the Parkinson’s disease treatment; Nepicastat an orally administered, potent and selective inhibitor of dopamine beta hydroxylase for the cocaine dependence treatment; BTT-1023, a monoclonal antibody used in inflammation and fibrosis treatment and SYN120 an oral, potent and dual antagonist used in Alzheimer’s disease and other cognitive disorders which are in different clinical trials. Biotie Therapies Corp. is based in Turku, Finland. “

Other analysts also recently issued research reports about the company. Roth Capital assumed coverage on Biotie Therapies Oyj in a research report on Tuesday, July 7th. They set a “buy” rating and a $26.00 target price for the company. JMP Securities initiated coverage on Biotie Therapies Oyj in a report on Monday, July 6th. They set an “outperform” rating and a $32.00 price target for the company. RBC Capital started coverage on Biotie Therapies Oyj in a research note on Monday, July 6th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Stifel Nicolaus initiated coverage on Biotie Therapies Oyj in a research report on Monday, July 6th. They issued a “buy” rating and a $30.00 price target on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $30.75.

Shares of Biotie Therapies Oyj (NASDAQ:BITI) traded down 0.770% on Tuesday, reaching $13.525. The company had a trading volume of 83,647 shares. The company’s 50-day moving average is $16.33 and its 200 day moving average is $18.00. The firm’s market capitalization is $165.82 million. Biotie Therapies Oyj has a 12 month low of $12.75 and a 12 month high of $25.39.

Biotie Therapies Oyj (NASDAQ:BITI) last announced its earnings results on Thursday, August 20th. The company reported ($1.77) earnings per share for the quarter, missing the consensus estimate of ($1.10) by $0.67. Equities analysts forecast that Biotie Therapies Oyj will post ($2.89) earnings per share for the current year.

Biotie Therapies Oyj is a Finland-based biopharmaceutical company, which specializes in the field of neurodegenerative and psychiatric disorders. Its product portfolio comprises six drugs: Selincro (NASDAQ:BITI), an orally administered opioid receptor ligand applied in the alcohol dependence therapy; Tozadenant (SYN115), a is an oral, potent and selective adenosine 2a (A2a) receptor antagonist for the Parkinson’s disease treatment; NRL-1, a intranasal formulation of diazepam for patients with epilepsy; Nepicastat (SYN117), an orally administered, potent and selective inhibitor of dopamine beta hydroxylase (DBH) for the cocaine dependence treatment; BTT-1023, a monoclonal antibody targeting Vascular Adhesion Protein 1 (VAP-1) used in inflammation and fibrosis treatment; and SYN120, an oral, potent and dual antagonist of the 5-HT6 and 5HT2a receptors used in Alzheimer’s disease and other cognitive disorders, such as schizophrenia. It is a parent of Biotie Therapies GmbH, among others.