BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Receives $42.60 Average PT from Analysts

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $42.60.

A number of research analysts have commented on the stock. Bank of America reiterated an “underperform” rating and set a $4.00 price objective (down from $112.00) on shares of BioXcel Therapeutics in a research note on Tuesday, January 7th. RODMAN&RENSHAW upgraded BioXcel Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 19th. Rodman & Renshaw started coverage on BioXcel Therapeutics in a research note on Wednesday, March 19th. They set a “buy” rating and a $65.00 price objective on the stock. HC Wainwright decreased their target price on BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Finally, Canaccord Genuity Group lowered their price target on BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating for the company in a report on Monday, January 6th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC increased its position in BioXcel Therapeutics by 203.9% in the fourth quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock worth $27,000 after buying an additional 48,336 shares during the period. Northern Trust Corp increased its holdings in shares of BioXcel Therapeutics by 81.4% in the 4th quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock worth $28,000 after acquiring an additional 33,161 shares during the period. Wells Fargo & Company MN lifted its position in BioXcel Therapeutics by 7.5% in the 4th quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock valued at $74,000 after purchasing an additional 13,952 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in BioXcel Therapeutics by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock valued at $117,000 after purchasing an additional 13,922 shares during the period. Institutional investors and hedge funds own 30.68% of the company’s stock.

BioXcel Therapeutics Price Performance

Shares of BioXcel Therapeutics stock opened at $2.31 on Friday. BioXcel Therapeutics has a 1-year low of $1.72 and a 1-year high of $49.58. The company has a market capitalization of $7.41 million, a PE ratio of -0.07 and a beta of 0.89. The business has a 50-day moving average of $3.26 and a 200-day moving average of $6.52.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($3.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.36) by $0.79. The business had revenue of $0.30 million for the quarter, compared to analyst estimates of $0.72 million. On average, equities analysts expect that BioXcel Therapeutics will post -24.39 earnings per share for the current fiscal 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.