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

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has received a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $42.60.

A number of equities research analysts recently commented on BTAI shares. Wall Street Zen lowered BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. Rodman & Renshaw initiated coverage on shares of BioXcel Therapeutics in a research note on Wednesday, March 19th. They issued a “buy” rating and a $65.00 target price on the stock. Finally, RODMAN&RENSHAW raised shares of BioXcel Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 19th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. bought a new position in shares of BioXcel Therapeutics in the first quarter worth approximately $50,000. Squarepoint Ops LLC grew its holdings in shares of BioXcel Therapeutics by 203.9% in 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 grew its holdings in shares of BioXcel Therapeutics by 81.4% in the fourth quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock worth $28,000 after purchasing an additional 33,161 shares during the last quarter. Murchinson Ltd. bought a new position in shares of BioXcel Therapeutics in the first quarter worth approximately $276,000. Finally, Wells Fargo & Company MN grew its holdings in shares of BioXcel Therapeutics by 7.5% in the fourth quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock worth $74,000 after purchasing an additional 13,952 shares during the last quarter. Institutional investors own 30.68% of the company’s stock.

BioXcel Therapeutics Price Performance

BioXcel Therapeutics stock opened at $1.97 on Friday. The business has a 50 day moving average of $1.63 and a 200-day moving average of $2.96. BioXcel Therapeutics has a 1 year low of $1.17 and a 1 year high of $21.92. The company has a market capitalization of $11.94 million, a P/E ratio of -0.15 and a beta of 0.03.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its quarterly earnings results on Monday, May 12th. The company reported ($1.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.72) by $1.22. The business had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.35 million. Equities analysts anticipate that BioXcel Therapeutics will post -24.39 EPS for the current 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.