BioXcel Therapeutics (NASDAQ:BTAI) Cut to Hold at Zacks Research

Zacks Research lowered shares of BioXcel Therapeutics (NASDAQ:BTAI) from a strong-buy rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. HC Wainwright raised their price objective on shares of BioXcel Therapeutics to $10.00 and gave the stock a “buy” rating in a report on Friday, August 15th. Wall Street Zen cut shares of BioXcel Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.75.

BioXcel Therapeutics Stock Up 3.5%

Shares of BioXcel Therapeutics stock opened at $4.10 on Tuesday. BioXcel Therapeutics has a 52-week low of $1.17 and a 52-week high of $13.36. The company has a 50 day moving average of $2.92 and a 200 day moving average of $2.26. The company has a market capitalization of $65.64 million, a P/E ratio of -0.32 and a beta of 0.05.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($2.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.30) by ($0.15). The company had revenue of $0.12 million for the quarter, compared to the consensus estimate of $0.21 million. As a group, research analysts anticipate that BioXcel Therapeutics will post -24.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioXcel Therapeutics

A number of institutional investors have recently modified their holdings of BTAI. Geode Capital Management LLC increased its holdings in shares of BioXcel Therapeutics by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock valued at $117,000 after acquiring an additional 13,922 shares during the period. Wells Fargo & Company MN increased its holdings in shares of BioXcel Therapeutics by 7.5% in the 4th quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock valued at $74,000 after acquiring an additional 13,952 shares during the period. Northern Trust Corp increased its holdings in shares of BioXcel Therapeutics by 81.4% in the 4th quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock valued at $28,000 after acquiring an additional 33,161 shares during the period. Squarepoint Ops LLC increased its holdings in shares of BioXcel Therapeutics by 203.9% in the 4th quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock valued at $27,000 after acquiring an additional 48,336 shares during the period. Finally, Murchinson Ltd. acquired a new position in shares of BioXcel Therapeutics in the 1st quarter valued at $276,000. 30.68% of the stock is owned by institutional investors and hedge funds.

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.