BioXcel Therapeutics (NASDAQ:BTAI) Stock Rating Lowered by Zacks Research

BioXcel Therapeutics (NASDAQ:BTAI) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $37.50.

BioXcel Therapeutics Price Performance

Shares of BTAI opened at $1.62 on Wednesday. BioXcel Therapeutics has a one year low of $1.17 and a one year high of $8.08. The company has a market cap of $35.43 million, a PE ratio of -0.17 and a beta of 0.21. The stock has a 50-day moving average of $1.88 and a 200-day moving average of $2.53.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Diversify Wealth Management LLC bought a new stake in BioXcel Therapeutics in the 2nd quarter worth about $27,000. XTX Topco Ltd purchased a new position in shares of BioXcel Therapeutics in the 2nd quarter worth approximately $42,000. Goldman Sachs Group Inc. bought a new position in shares of BioXcel Therapeutics in the first quarter valued at approximately $50,000. Geode Capital Management LLC increased its position in shares of BioXcel Therapeutics by 27.7% during the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock valued at $51,000 after acquiring an additional 6,120 shares during the last quarter. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of BioXcel Therapeutics during the third quarter valued at approximately $76,000. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

BioXcel Therapeutics Company Profile

BioXcel Therapeutics, Inc is a biopharmaceutical company leveraging an AI-driven drug development platform to identify and advance novel or repurposed therapies in neuroscience and immunology. The proprietary BioXcel AI engine analyzes preclinical and clinical data to reveal new therapeutic applications for existing small molecules and biologics, aiming to streamline development timelines and improve patient outcomes.

BioXcel’s commercial portfolio includes two FDA-approved therapies. IGALMI® (dexmedetomidine) is indicated for the acute treatment of agitation in schizophrenia or bipolar I disorder, offering a noninvasive, sublingual delivery option.