Brokerages Set BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Price Target at $39.75

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has received a consensus rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $39.75.

Several research analysts have recently weighed in on BTAI shares. Zacks Research cut BioXcel Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of BioXcel Therapeutics in a research report on Monday, September 15th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On BioXcel Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BTAI. Geode Capital Management LLC grew its holdings in BioXcel Therapeutics by 27.7% during the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after purchasing an additional 6,120 shares during the period. Jones Financial Companies Lllp lifted its position in shares of BioXcel Therapeutics by 38.5% in the third quarter. Jones Financial Companies Lllp now owns 36,000 shares of the company’s stock valued at $97,000 after buying an additional 10,000 shares during the last quarter. Diversify Wealth Management LLC bought a new position in shares of BioXcel Therapeutics during the 2nd quarter worth approximately $27,000. XTX Topco Ltd bought a new position in shares of BioXcel Therapeutics during the 2nd quarter worth approximately $42,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of BioXcel Therapeutics during the 1st quarter worth approximately $50,000. 30.68% of the stock is currently owned by institutional investors and hedge funds.

BioXcel Therapeutics Stock Up 7.0%

Shares of BTAI stock opened at $2.23 on Wednesday. BioXcel Therapeutics has a 12-month low of $1.17 and a 12-month high of $9.26. The firm has a fifty day moving average of $2.23 and a 200-day moving average of $2.49. The company has a market capitalization of $48.66 million, a price-to-earnings ratio of -0.23 and a beta of 0.20.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its earnings results on Wednesday, November 12th. The company reported ($2.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.64). The company had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.20 million. On average, equities analysts expect that BioXcel Therapeutics will post -24.39 EPS for the current year.

BioXcel Therapeutics Company Profile

BioXcel Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology. The company's drug re-innovation approach leverages existing approved drugs and/or clinically validated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indices.