BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Receives $42.60 Consensus Price Target from Analysts

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $42.60.

A number of equities research analysts have recently issued reports on the stock. HC Wainwright reduced their target price on shares of BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Bank of America reissued an “underperform” rating and issued a $4.00 price objective (down previously from $112.00) on shares of BioXcel Therapeutics in a report on Tuesday, January 7th. Canaccord Genuity Group decreased their target price on shares of BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Rodman & Renshaw assumed coverage on shares of BioXcel Therapeutics in a research report on Wednesday, March 19th. They issued a “buy” rating and a $65.00 price target for the company. Finally, RODMAN&RENSHAW raised BioXcel Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 19th.

Institutional Trading of BioXcel Therapeutics

Several large investors have recently made changes to their positions in the company. Squarepoint Ops LLC lifted its stake in BioXcel Therapeutics by 203.9% during the fourth quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock worth $27,000 after purchasing an additional 48,336 shares during the last quarter. Northern Trust Corp raised its holdings in shares of BioXcel Therapeutics by 81.4% during the 4th quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock worth $28,000 after buying an additional 33,161 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of BioXcel Therapeutics by 7.5% during the 4th quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock worth $74,000 after buying an additional 13,952 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of BioXcel Therapeutics by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock worth $117,000 after buying an additional 13,922 shares during the last quarter. Institutional investors and hedge funds own 30.68% of the company’s stock.

BioXcel Therapeutics Price Performance

BTAI opened at $2.33 on Friday. The business has a fifty day simple moving average of $3.54 and a 200 day simple moving average of $6.67. BioXcel Therapeutics has a 1 year low of $1.72 and a 1 year high of $49.58. The company has a market capitalization of $7.47 million, a PE ratio of -0.07 and a beta of 0.89.

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.