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Biotie Therapies Oyj Stock Rating Lowered by Zacks (BITI)

Biotie Therapies Oyj Stock Rating Lowered by Zacks (BITI)

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Published: 17 October 2015

ZIMBABWE – Zacks downgraded shares of Biotie Therapies Oyj (NASDAQ:BITI) from a hold rating to a sell rating in a report published on Monday morning, MarketBeat.com 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. “

BITI has been the subject of a number of other research reports. RBC Capital reiterated an outperform rating and set a $35.00 price target on shares of Biotie Therapies Oyj in a research report on Monday, September 28th. JMP Securities started coverage on shares of Biotie Therapies Oyj in a research note on Monday, July 6th. They set an outperform rating and a $32.00 price objective for the company. Roth Capital assumed coverage on shares of Biotie Therapies Oyj in a research note on Tuesday, July 7th. They issued a buy rating and a $26.00 target price for the company. Finally, Stifel Nicolaus began coverage on shares of Biotie Therapies Oyj in a report on Monday, July 6th. They issued a buy rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $30.75.

Biotie Therapies Oyj (NAZDAQ:BITI) traded up 3.0756% during midday trading on Monday, hitting $15.2088. The stock had a trading volume of 2,900 shares. Biotie Therapies Oyj has a 12-month low of $12.75 and a 12-month high of $25.39. The stock has a 50-day moving average price of $15.44 and a 200 day moving average price of $17.65. The firm’s market cap is $186.46 million.

Biotie Therapies Oyj (NASDAQ:BITI) last announced its quarterly earnings data on Thursday, August 20th. The company reported ($1.77) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.10) by $0.67. On average, equities analysts anticipate that Biotie Therapies Oyj will post ($2.89) earnings per share for the current fiscal 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 (NAZDAQ: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.