BioXcel Therapeutics (NASDAQ:BTAI) Price Target Cut to $71.00

BioXcel Therapeutics (NASDAQ:BTAIGet Rating) had its price target reduced by equities researchers at Truist Financial from $125.00 to $71.00 in a research note issued to investors on Tuesday, The Fly reports.

Several other research analysts have also weighed in on BTAI. Bank of America upped their target price on shares of BioXcel Therapeutics from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, April 6th. Canaccord Genuity Group lowered their target price on shares of BioXcel Therapeutics from $95.00 to $81.00 in a research report on Friday, March 11th. HC Wainwright upped their target price on shares of BioXcel Therapeutics from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Thursday, April 14th. Finally, UBS Group lowered their target price on shares of BioXcel Therapeutics from $88.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, February 16th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $69.29.

BTAI stock opened at $11.36 on Tuesday. The company has a fifty day moving average price of $16.77 and a 200 day moving average price of $20.25. BioXcel Therapeutics has a 12 month low of $11.28 and a 12 month high of $39.00. The company has a market cap of $317.85 million, a price-to-earnings ratio of -2.78 and a beta of 1.31.

BioXcel Therapeutics (NASDAQ:BTAIGet Rating) last released its quarterly earnings results on Monday, May 9th. The company reported ($1.12) EPS for the quarter, beating the consensus estimate of ($1.21) by $0.09. During the same quarter in the previous year, the company posted ($1.08) earnings per share. As a group, research analysts anticipate that BioXcel Therapeutics will post -4.63 EPS for the current year.

A number of hedge funds have recently bought and sold shares of BTAI. Alliancebernstein L.P. grew its position in BioXcel Therapeutics by 47.9% during the fourth quarter. Alliancebernstein L.P. now owns 1,508,768 shares of the company’s stock valued at $30,673,000 after acquiring an additional 488,513 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of BioXcel Therapeutics by 45.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 417,510 shares of the company’s stock worth $12,671,000 after buying an additional 129,758 shares during the period. Morgan Stanley boosted its position in shares of BioXcel Therapeutics by 391.5% in the second quarter. Morgan Stanley now owns 119,262 shares of the company’s stock worth $3,466,000 after buying an additional 94,997 shares during the period. BlackRock Inc. boosted its position in shares of BioXcel Therapeutics by 7.4% in the third quarter. BlackRock Inc. now owns 1,216,737 shares of the company’s stock worth $36,928,000 after buying an additional 84,335 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of BioXcel Therapeutics by 121.3% in the fourth quarter. Bank of America Corp DE now owns 140,985 shares of the company’s stock worth $2,866,000 after buying an additional 77,276 shares during the period. 49.77% of the stock is owned by hedge funds and other institutional investors.

About BioXcel Therapeutics (Get Rating)

BioXcel Therapeutics, Inc, a clinical stage biopharmaceutical company, utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology in the United States. The company is involved in developing BXCL501, a sublingual thin film formulation of adrenergic receptor agonist dexmedetomidine for the treatment of agitation resulting from neurological and psychiatric disorders; and BXCL701, an immune activator for the treatment of prostate and pancreatic cancers, and solid tumors.

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