Analysts Set BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Target Price at $37.50

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) have received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $37.50.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Wednesday, October 8th.

BioXcel Therapeutics Trading Down 3.7%

BTAI stock opened at $1.84 on Thursday. BioXcel Therapeutics has a 1-year low of $1.17 and a 1-year high of $8.08. The business’s 50 day moving average is $1.88 and its 200-day moving average is $2.55. The firm has a market cap of $40.24 million, a P/E ratio of -0.19 and a beta of 0.21.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($2.18) EPS for the quarter, missing the consensus estimate of ($1.54) by ($0.64). The company had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.20 million. Sell-side analysts forecast that BioXcel Therapeutics will post -24.39 EPS for the current year.

Hedge Funds Weigh In On BioXcel Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of BioXcel Therapeutics by 27.7% in the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock valued at $51,000 after buying an additional 6,120 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of BioXcel Therapeutics by 38.5% during the third quarter. Jones Financial Companies Lllp now owns 36,000 shares of the company’s stock worth $97,000 after purchasing an additional 10,000 shares in the last quarter. Diversify Wealth Management LLC bought a new stake in shares of BioXcel Therapeutics during the second quarter valued at approximately $27,000. XTX Topco Ltd acquired a new stake in shares of BioXcel Therapeutics in the second quarter valued at approximately $42,000. Finally, Goldman Sachs Group Inc. bought a new position in BioXcel Therapeutics in the 1st quarter worth approximately $50,000. Institutional investors and hedge funds own 30.68% of the company’s stock.

About BioXcel Therapeutics

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.