Biotie therapies oyj stock rating lowered by Zacks (BITI)

Biotie therapies oyj stock rating lowered by Zacks (BITI)

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ZIMBABWE – Biotie Therapies Oyj (NASDAQ:BITI) was downgraded by Zacks from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, Marketbeat 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. “

Shares of Biotie Therapies Oyj (NASDAQ:BITI) traded down 2.66% during trading on Tuesday, hitting $15.20. The stock had a trading volume of 12,434 shares. Biotie Therapies Oyj has a 12 month low of $15.20 and a 12 month high of $25.39. The company’s market cap is $186.35 million. The stock has a 50-day moving average price of $17.21 and a 200 day moving average price of $18.45.

Biotie Therapies Oyj (NASDAQ:BITI) last issued its quarterly earning resullts on Thursday, August 20th. The company reported ($1.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.10) by $0.67. Equities analysts expect that Biotie Therapies Oyj will post ($2.88) EPS for the current fiscal year.

A number of other brokerages also recently issued reports on BITI. 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 for the company. JMP Securities began coverage on Biotie Therapies Oyj in a report on Monday, July 6th. They issued an “outperform” rating and a $32.00 price target for the company. RBC Capital initiated coverage on Biotie Therapies Oyj in a researech note on Monday, July 6th. They set 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 set a “buy” rating and a $30.00 price target for the company. One analyst has rated the stock with a sell rating and four have assigned 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.

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 (NASDQ: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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