BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Receives $16.71 Average Target Price from Analysts

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAIGet Free Report) have been given an average recommendation of “Hold” by the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.71.

A number of research analysts have recently weighed in on BTAI shares. Canaccord Genuity Group reduced their target price on shares of BioXcel Therapeutics from $18.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Bank of America reduced their target price on shares of BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. UBS Group reissued a “neutral” rating and set a $4.00 target price (down from $9.00) on shares of BioXcel Therapeutics in a research report on Wednesday, February 21st. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of BioXcel Therapeutics in a research report on Friday, May 10th.

Read Our Latest Stock Report on BTAI

Insider Activity at BioXcel Therapeutics

In related news, CEO Vimal Mehta sold 126,014 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $1.63, for a total transaction of $205,402.82. Following the sale, the chief executive officer now directly owns 7,811,515 shares in the company, valued at approximately $12,732,769.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 132,516 shares of company stock worth $222,449. 35.80% of the stock is owned by corporate insiders.

Institutional Trading of BioXcel Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of BTAI. Bank of New York Mellon Corp lifted its stake in BioXcel Therapeutics by 13.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 128,022 shares of the company’s stock worth $324,000 after purchasing an additional 14,901 shares in the last quarter. Truist Financial Corp purchased a new stake in BioXcel Therapeutics in the 4th quarter worth approximately $32,000. Apollon Wealth Management LLC purchased a new stake in BioXcel Therapeutics in the 4th quarter worth approximately $31,000. Tower Research Capital LLC TRC lifted its stake in BioXcel Therapeutics by 239.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,832 shares of the company’s stock worth $41,000 after purchasing an additional 9,754 shares in the last quarter. Finally, Pennant Investors LP purchased a new stake in BioXcel Therapeutics in the 4th quarter worth approximately $248,000. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

BioXcel Therapeutics Stock Performance

Shares of BTAI stock opened at $1.37 on Friday. BioXcel Therapeutics has a 52-week low of $1.32 and a 52-week high of $22.06. The company has a 50-day simple moving average of $2.21 and a two-hundred day simple moving average of $2.77. The company has a market capitalization of $51.42 million, a price-to-earnings ratio of -0.26 and a beta of 0.36.

BioXcel Therapeutics (NASDAQ:BTAIGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.19). BioXcel Therapeutics had a negative return on equity of 890.63% and a negative net margin of 8,715.72%. The firm had revenue of $0.58 million during the quarter, compared to the consensus estimate of $0.42 million. During the same period in the previous year, the company posted ($1.84) earnings per share. On average, sell-side analysts forecast that BioXcel Therapeutics will post -2.61 EPS for the current fiscal year.

BioXcel Therapeutics Company Profile

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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.

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Analyst Recommendations for BioXcel Therapeutics (NASDAQ:BTAI)

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