Brokerages set $28.00 price target for Biotie Therapies Oyj (NASDAQ:BITI)

Brokerages set $28.00 price target for Biotie Therapies Oyj (NASDAQ:BITI)

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ZIMBABWE – Shares of Biotie Therapies Oyj (NASDAQ:BITI) have been given a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.

Brokers have set a twelve-month consensus target price of $28.00 for the company and are forecasting that the company will post ($0.79) earnings per share for the current quarter, according to Zacks. Zacks has also given Biotie Therapies Oyj an industry rank of 62 out of 265 based on the ratings given to related companies.

A number of analysts have commented on the stock. Roth Capital began coverage on shares of Biotie Therapies Oyj in a research report on Tuesday, July 7th. They issued a “buy” rating and a $26.00 price target for the company. JMP Securities began coverage on shares of Biotie Therapies Oyj in a research report on Monday, July 6th. They set an “outperform” rating and a $32.00 target price for the company. RBC Capital started coverage on shares of Biotie Therapies Oyj in a research report on Monday, July 6th. They set an “outperform” rating and a $35.00 price objective for the company. Stifel Nicolaus initiated coverage on shares of Biotie Therapies Oyj in a research note on Monday, July 6th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Zacks downgraded shares of Biotie Therapies Oyj from a “hold” rating to a “sell” rating in a research note on Tuesday, September 15th.

Biotie Therapies Oyj (NASDAQ:BITI) traded down 1.43% on Monday, reaching $13.11. 21,620 shares of the company traded hands. Biotie Therapies Oyj has a 1-year low of $12.75 and a 1-year high of $25.39. The stock’s market capitalization is $160.73 million. The stock’s 50-day moving average is $14.72 and its 200-day moving average is $17.29.

Biotie Therapies Oyj (NASDAQ:BITI) last announced its earnings results on Thursday, August 20th. The company reported ($1.77) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.10) by $0.67. Equities research analysts expect that Biotie Therapies Oyj will post ($2.90) EPS for the current year.

Biotie Therapies Oyj is a Finland-based drug development company focused on developing products for neurodegenerative and psychiatric illnesses. The lead marketplace merchandise of the Company is Selincro (NASDAQ:BITI), a Lundbeck that is therapeutic for alcohol addiction that Europe’s partner rolls out across it. Its product pipeline contains tozadenant, a therapeutic for Parkinson’s disease that’s in Phase Three development; and two additional compounds in Stage Two development that treat cognitive disorders, specifically: SYN120, an orally administered compound healing for Parkinson’s disease dementia, and BTT1023, a human monoclonal antibody targeting compound curative for primary sclerosing cholangitis. The business operates as a subsidiary company of Biotie Therapies Corp.document.write(‘‘);

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