Analysts Set BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Price Target at $16.86

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has been given an average recommendation of “Hold” by the seven analysts that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $16.71.

A number of brokerages have weighed in on BTAI. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of BioXcel Therapeutics in a report on Tuesday. UBS Group reiterated a “neutral” rating and set a $4.00 price target (down from $9.00) on shares of BioXcel Therapeutics in a report on Wednesday, February 21st. Bank of America decreased their price target on BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Finally, Canaccord Genuity Group decreased their price target on BioXcel Therapeutics from $18.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, March 14th.

Hedge Funds Weigh In On BioXcel Therapeutics

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in shares of BioXcel Therapeutics by 13.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 128,022 shares of the company’s stock worth $324,000 after buying an additional 14,901 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of BioXcel Therapeutics by 89.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 33,940 shares of the company’s stock worth $86,000 after buying an additional 16,032 shares in the last quarter. Virtu Financial LLC bought a new position in shares of BioXcel Therapeutics during the 4th quarter worth approximately $176,000. Pennant Investors LP bought a new position in shares of BioXcel Therapeutics during the 4th quarter worth approximately $248,000. Finally, Truist Financial Corp bought a new position in shares of BioXcel Therapeutics during the 4th quarter worth approximately $32,000. Institutional investors own 30.68% of the company’s stock.

BioXcel Therapeutics Stock Up 4.2 %

NASDAQ BTAI opened at $2.97 on Friday. The company has a market capitalization of $90.82 million, a price-to-earnings ratio of -0.48 and a beta of 0.40. BioXcel Therapeutics has a twelve month low of $1.91 and a twelve month high of $29.56. The stock has a fifty day simple moving average of $2.93 and a 200 day simple moving average of $3.19.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.22. The business had revenue of $0.38 million during the quarter, compared to the consensus estimate of $1.17 million. BioXcel Therapeutics had a negative return on equity of 890.63% and a negative net margin of 12,974.86%. Research analysts expect that BioXcel Therapeutics will post -2.46 earnings per share for the current fiscal year.

About BioXcel Therapeutics

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.