SunTrust Banks Initiates Coverage on BioXcel Therapeutics (NASDAQ:BTAI)

Analysts at SunTrust Banks started coverage on shares of BioXcel Therapeutics (NASDAQ:BTAI) in a report released on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $24.00 price target on the stock. SunTrust Banks’ target price indicates a potential upside of 366.02% from the company’s previous close.

Several other analysts have also recently weighed in on BTAI. Zacks Investment Research raised shares of BioXcel Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, September 11th. BMO Capital Markets set a $21.00 price objective on shares of BioXcel Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, September 18th. HC Wainwright set a $25.00 price objective on shares of BioXcel Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, ValuEngine raised shares of BioXcel Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.60.

NASDAQ:BTAI traded up $0.79 during trading hours on Tuesday, reaching $5.15. The company’s stock had a trading volume of 142,500 shares, compared to its average volume of 80,457. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.93 and a quick ratio of 3.93. The company has a market cap of $72.05 million, a price-to-earnings ratio of -3.90 and a beta of 2.80. BioXcel Therapeutics has a one year low of $2.41 and a one year high of $12.00. The business’s 50-day moving average is $5.44 and its 200-day moving average is $9.14.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its quarterly earnings data on Thursday, November 14th. The company reported ($0.57) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.59) by $0.02. On average, sell-side analysts predict that BioXcel Therapeutics will post -2.3 EPS for the current fiscal year.

In other news, Director Peter Mueller acquired 8,446 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were purchased at an average cost of $8.74 per share, with a total value of $73,818.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 64.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rational Advisors LLC bought a new stake in shares of BioXcel Therapeutics during the third quarter valued at approximately $48,000. Capital Investment Advisory Services LLC bought a new stake in shares of BioXcel Therapeutics during the second quarter valued at approximately $53,000. Strs Ohio grew its stake in shares of BioXcel Therapeutics by 431.3% during the third quarter. Strs Ohio now owns 8,500 shares of the company’s stock valued at $59,000 after purchasing an additional 6,900 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new stake in shares of BioXcel Therapeutics during the second quarter valued at approximately $138,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of BioXcel Therapeutics during the second quarter valued at approximately $198,000. 20.46% of the stock is currently owned by institutional investors and hedge funds.

BioXcel Therapeutics Company Profile

BioXcel Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on novel artificial intelligence-based drug development in the fields of neuroscience and immuno-oncology in the United States. The company is involved in developing BXCL501, a sublingual thin film formulation of dexmedetomidine designed for acute treatment of agitation resulting from neurological and psychiatric disorders; and BXCL701, an immuno-oncology agent designed for the treatment of prostate and pancreatic cancers.

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