BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Given Consensus Recommendation of “Hold” by Brokerages

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) have been assigned an average rating of “Hold” from the four brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $11.00.

BTAI has been the topic of a number of research analyst reports. HC Wainwright decreased their target price on BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Wall Street Zen downgraded BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Monday, April 20th. Zacks Research upgraded BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Rodman & Renshaw initiated coverage on BioXcel Therapeutics in a research report on Tuesday, March 17th. They set a “buy” rating and a $17.00 target price on the stock.

BioXcel Therapeutics Trading Up 2.7%

Shares of BTAI stock opened at $1.14 on Friday. The company has a market cap of $35.20 million, a price-to-earnings ratio of -0.20 and a beta of 0.30. The stock has a 50 day simple moving average of $1.15 and a 200-day simple moving average of $1.52. BioXcel Therapeutics has a 12-month low of $1.01 and a 12-month high of $8.08.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its earnings results on Friday, May 15th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). The firm had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.38 million. On average, equities analysts forecast that BioXcel Therapeutics will post -2.07 earnings per share for the current fiscal year.

Institutional Trading of BioXcel Therapeutics

A number of institutional investors have recently bought and sold shares of BTAI. Millennium Management LLC purchased a new stake in BioXcel Therapeutics during the third quarter worth $2,632,000. Jane Street Group LLC purchased a new position in BioXcel Therapeutics during the fourth quarter worth $204,000. Geode Capital Management LLC increased its position in BioXcel Therapeutics by 64.6% during the fourth quarter. Geode Capital Management LLC now owns 206,168 shares of the company’s stock worth $330,000 after buying an additional 80,928 shares in the last quarter. Man Group plc purchased a new position in BioXcel Therapeutics during the fourth quarter worth $91,000. Finally, Goldman Sachs Group Inc. purchased a new position in BioXcel Therapeutics during the first quarter worth $50,000. 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.