Biotie therapies oyj downgraded to sell at Zacks (BITI)

Biotie therapies oyj downgraded to sell at Zacks (BITI)

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ZIMBABWE – Zacks cut shares of Biotie Therapies Oyj (NASDAQ:BITI) from a hold rating to a sell rating in a report issued on Tuesday morning, market beat 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. “

Several other research analysts also recently commented on the company. Stifel Nicolaus assumed coverage on Biotie Therapies Oyj in a report on Monday, July 6th. They set a buy rating and a $30.00 price target on the stock. Roth Capital initiated coverage on Biotie Therapies Oyj in a report on Tuesday, July 7th. They set a buy rating and a $26.00 target price on the stock. RBC Capital began coverage on Biotie Therapies Oyj in a research report on Monday, July 6th. They issued an outperform rating and a $35.00 price target on the stock. Finally, JMP Securities assumed coverage on Biotie Therapies Oyj in a research report on Monday, July 6th. They issued an outperform rating and a $32.00 price objective on the stock. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock has a concensus rating of Buy and an average price target of $30.75.

Biotie Therapies Oyj (NASDAQ:BITI) opened at 16.25 on Tuesday. The firm has a 50-day moving average price of $17.50 and a 200 day moving average price of $18.63. Biotie Therapies Oyj has a one year low of $15.88 and a one year high of $25.39.

Biotie Therapies Oyj (NASDAQ:BITI) last issued its quarterly earnings results on Thursday, August 20th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.10) by $0.67. Analysts expect that Biotie Therapies Oyj will post ($2.90) 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 (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.

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