Analysts Set BioXcel Therapeutics, Inc. (NASDAQ:BTAI) PT at $11.00

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has been assigned a consensus recommendation of “Hold” from the four analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $11.00.

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

BioXcel Therapeutics Price Performance

Shares of NASDAQ BTAI opened at $1.20 on Friday. BioXcel Therapeutics has a 52-week low of $1.01 and a 52-week high of $8.08. The firm has a fifty day moving average of $1.15 and a 200-day moving average of $1.49. The stock has a market capitalization of $37.06 million, a PE ratio of -0.21 and a beta of 0.30.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The firm had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.38 million. Equities research analysts expect that BioXcel Therapeutics will post -2.07 EPS for the current fiscal year.

Institutional Trading of BioXcel Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its position in BioXcel Therapeutics by 78.5% during the 4th quarter. Millennium Management LLC now owns 1,835,192 shares of the company’s stock worth $2,936,000 after purchasing an additional 807,139 shares during the period. Geode Capital Management LLC boosted its position in BioXcel Therapeutics by 64.6% in the 4th quarter. Geode Capital Management LLC now owns 206,168 shares of the company’s stock valued at $330,000 after buying an additional 80,928 shares during the last quarter. Jane Street Group LLC purchased a new position in BioXcel Therapeutics in the 4th quarter valued at about $204,000. State Street Corp grew its stake in shares of BioXcel Therapeutics by 19.9% during the fourth quarter. State Street Corp now owns 63,218 shares of the company’s stock valued at $101,000 after acquiring an additional 10,500 shares in the last quarter. Finally, Man Group plc acquired a new stake in shares of BioXcel Therapeutics during the fourth quarter valued at about $91,000. 30.68% of the stock is 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.