BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) have earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $39.75.

BTAI has been the subject of several recent research reports. Zacks Research lowered shares of BioXcel Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of BioXcel Therapeutics in a report on Thursday, August 28th. Finally, Wall Street Zen cut shares of BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, June 27th.

BioXcel Therapeutics Price Performance

NASDAQ:BTAI opened at $3.39 on Friday. The firm has a market cap of $54.27 million, a price-to-earnings ratio of -0.27 and a beta of 0.20. The company has a 50 day moving average price of $3.30 and a 200-day moving average price of $2.36. BioXcel Therapeutics has a 1-year low of $1.17 and a 1-year high of $13.36.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its earnings results on Tuesday, August 12th. The company reported ($2.45) earnings per share for the quarter, missing the consensus estimate of ($2.30) by ($0.15). The firm had revenue of $0.12 million for the quarter, compared to analysts’ expectations of $0.21 million. On average, sell-side analysts anticipate that BioXcel Therapeutics will post -24.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Oaktree Capital Management LP purchased a new position in BioXcel Therapeutics in the 2nd quarter valued at about $437,000. Murchinson Ltd. purchased a new position in BioXcel Therapeutics in the 1st quarter valued at about $276,000. Northern Trust Corp lifted its stake in 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 buying an additional 33,161 shares in the last quarter. Squarepoint Ops LLC lifted its stake in 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 buying an additional 48,336 shares in the last quarter. Finally, Oaktree Fund Advisors LLC purchased a new position in BioXcel Therapeutics in the 2nd quarter valued at about $78,000. 30.68% of the stock is owned by hedge funds and other institutional investors.

BioXcel Therapeutics Company Profile

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.