BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Receives Consensus Rating of “Buy” from Brokerages

BioXcel Therapeutics, Inc. (NASDAQ:BTAI – Get Rating) has earned an average recommendation of “Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $65.00.

A number of equities research analysts have commented on BTAI shares. Canaccord Genuity Group lowered their target price on BioXcel Therapeutics from $84.00 to $75.00 in a report on Friday, May 13th. UBS Group lowered their target price on BioXcel Therapeutics from $88.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, February 16th. HC Wainwright lowered their target price on BioXcel Therapeutics from $134.00 to $110.00 and set a “buy” rating on the stock in a report on Monday. Bank of America increased their target price on BioXcel Therapeutics from $78.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, April 6th. Finally, Truist Financial decreased their price objective on BioXcel Therapeutics from $125.00 to $71.00 in a report on Tuesday, May 10th.

Shares of BTAI traded up $1.01 on Friday, reaching $12.55. The stock had a trading volume of 11,250 shares, compared to its average volume of 622,052. The firm has a market capitalization of $351.21 million, a PE ratio of -3.05 and a beta of 1.31. The firm has a 50-day moving average of $15.48 and a 200 day moving average of $18.62. BioXcel Therapeutics has a twelve month low of $9.08 and a twelve month high of $39.00.

BioXcel Therapeutics (NASDAQ:BTAI – Get Rating) last released its quarterly earnings results on Monday, May 9th. The company reported ($1.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.09. During the same period last year, the firm posted ($1.08) earnings per share. As a group, equities analysts anticipate that BioXcel Therapeutics will post -4.78 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Alliancebernstein L.P. raised its holdings in shares of 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 buying an additional 488,513 shares during the last quarter. Artemis Investment Management LLP grew its holdings in shares of BioXcel Therapeutics by 1.3% during the 1st quarter. Artemis Investment Management LLP now owns 1,428,228 shares of the company’s stock valued at $29,855,000 after acquiring an additional 17,846 shares in the last quarter. State Street Corp grew its holdings in shares of BioXcel Therapeutics by 4.1% during the 1st quarter. State Street Corp now owns 1,400,753 shares of the company’s stock valued at $29,290,000 after acquiring an additional 55,657 shares in the last quarter. BlackRock Inc. grew its holdings in shares of BioXcel Therapeutics by 6.0% during the 4th quarter. BlackRock Inc. now owns 1,289,654 shares of the company’s stock valued at $26,218,000 after acquiring an additional 72,917 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in BioXcel Therapeutics by 3.6% in the first quarter. Vanguard Group Inc. now owns 1,059,535 shares of the company’s stock worth $22,155,000 after purchasing an additional 37,204 shares in the last quarter. 49.77% of the stock is currently owned by institutional investors and hedge funds.

BioXcel Therapeutics Company Profile (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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