BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Receives Average Rating of “Hold” from Analysts

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) have been given an average rating of “Hold” by the four brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $35.50.

A number of analysts have weighed in on the company. Zacks Research lowered BioXcel Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 28th. HC Wainwright decreased their price objective on BioXcel Therapeutics from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Wednesday, January 21st.

BioXcel Therapeutics Stock Down 2.4%

BTAI opened at $1.61 on Friday. The stock’s fifty day moving average is $1.70 and its two-hundred day moving average is $2.31. The company has a market capitalization of $35.21 million, a P/E ratio of -0.17 and a beta of 0.18. BioXcel Therapeutics has a 52 week low of $1.17 and a 52 week high of $8.08.

Hedge Funds Weigh In On BioXcel Therapeutics

Several hedge funds have recently modified their holdings of the stock. Millennium Management LLC increased its stake in BioXcel Therapeutics by 78.5% during the 4th quarter. Millennium Management LLC now owns 1,835,192 shares of the company’s stock valued at $2,936,000 after purchasing an additional 807,139 shares in the last quarter. Oaktree Capital Management LP acquired a new position in shares of BioXcel Therapeutics in the 2nd quarter valued at $437,000. Geode Capital Management LLC increased its position in shares of BioXcel Therapeutics by 64.6% in the 4th quarter. Geode Capital Management LLC now owns 206,168 shares of the company’s stock valued at $330,000 after acquiring an additional 80,928 shares during the period. Jane Street Group LLC purchased a new position in BioXcel Therapeutics in the 4th quarter worth $204,000. Finally, State Street Corp lifted its position in BioXcel Therapeutics by 19.9% during the 4th quarter. State Street Corp now owns 63,218 shares of the company’s stock worth $101,000 after acquiring an additional 10,500 shares during the period. Institutional investors and hedge funds own 30.68% of the company’s stock.

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.