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

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) have received an average rating of “Hold” from the four ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $11.00.

A number of analysts have recently issued reports on the stock. HC Wainwright dropped their price objective on shares of BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Wall Street Zen cut BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Monday, April 20th. Finally, Rodman & Renshaw started coverage on shares of BioXcel Therapeutics in a research note on Tuesday, March 17th. They issued a “buy” rating and a $17.00 price target for the company.

Institutional Trading of BioXcel Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. bought a new position in BioXcel Therapeutics during the 1st quarter worth approximately $50,000. Geode Capital Management LLC raised its position in shares of BioXcel Therapeutics by 27.7% during the 2nd 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 in the last quarter. XTX Topco Ltd bought a new position in BioXcel Therapeutics during the second quarter worth $42,000. Diversify Wealth Management LLC bought a new position in BioXcel Therapeutics during the second quarter worth $27,000. Finally, Millennium Management LLC acquired a new position in BioXcel Therapeutics in the third quarter worth $2,632,000. Institutional investors and hedge funds own 30.68% of the company’s stock.

BioXcel Therapeutics Stock Performance

Shares of NASDAQ:BTAI opened at $0.80 on Thursday. The company has a market cap of $24.77 million, a P/E ratio of -0.14 and a beta of 0.27. BioXcel Therapeutics has a one year low of $0.79 and a one year high of $8.08. The business’s 50-day simple moving average is $1.19 and its 200 day simple moving average is $1.42.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). The business had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $0.38 million. Analysts predict that BioXcel Therapeutics will post -2.07 earnings per share for the current year.

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.