BioXcel Therapeutics (NASDAQ:BTAI) Shares Gap Up to $23.85

BioXcel Therapeutics Inc (NASDAQ:BTAI)’s share price gapped up prior to trading on Friday . The stock had previously closed at $8.97, but opened at $23.85. BioXcel Therapeutics shares last traded at $36.97, with a volume of 4,663,335 shares changing hands.

Several equities research analysts have issued reports on BTAI shares. Canaccord Genuity raised their price objective on shares of BioXcel Therapeutics from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, December 31st. BMO Capital Markets reaffirmed a “positive” rating and issued a $26.00 target price on shares of BioXcel Therapeutics in a research report on Thursday, January 16th. ValuEngine downgraded BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, December 16th. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of BioXcel Therapeutics in a report on Wednesday, February 5th. Finally, SunTrust Banks started coverage on BioXcel Therapeutics in a report on Tuesday, November 12th. They set a “buy” rating and a $24.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. BioXcel Therapeutics presently has an average rating of “Buy” and an average price target of $23.80.

The company has a debt-to-equity ratio of 0.03, a current ratio of 5.04 and a quick ratio of 5.04. The stock’s 50-day moving average price is $16.34 and its 200-day moving average price is $9.74. The company has a market cap of $381.98 million, a P/E ratio of -18.12 and a beta of 3.73.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly earnings results on Thursday, November 14th. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.02. As a group, analysts expect that BioXcel Therapeutics Inc will post -2.26 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. UBS Group AG boosted its holdings in BioXcel Therapeutics by 16.5% in the 4th quarter. UBS Group AG now owns 93,084 shares of the company’s stock valued at $1,360,000 after purchasing an additional 13,182 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in shares of BioXcel Therapeutics during the fourth quarter worth approximately $730,000. Oxford Asset Management LLP bought a new position in shares of BioXcel Therapeutics during the fourth quarter worth approximately $281,000. Game Plan Financial Advisors LLC bought a new position in shares of BioXcel Therapeutics during the fourth quarter worth approximately $183,000. Finally, Barclays PLC raised its position in shares of BioXcel Therapeutics by 133.5% in the fourth quarter. Barclays PLC now owns 6,940 shares of the company’s stock valued at $101,000 after buying an additional 3,968 shares in the last quarter. 22.54% of the stock is owned by hedge funds and other institutional investors.

About BioXcel Therapeutics (NASDAQ:BTAI)

BioXcel Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on novel artificial intelligence-based drug development in the fields of neuroscience and immuno-oncology in the United States. The company is involved in developing BXCL501, a sublingual thin film formulation of dexmedetomidine designed for acute treatment of agitation resulting from neurological and psychiatric disorders; and BXCL701, an immuno-oncology agent designed for the treatment of prostate and pancreatic cancers.

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