Brokerages Set BioXcel Therapeutics, Inc. (NASDAQ:BTAI) PT at $39.75

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) have earned a consensus rating of “Hold” from the seven research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $39.75.

Several equities research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of BioXcel Therapeutics in a research report on Monday, September 15th. Zacks Research cut shares of BioXcel Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Wednesday, October 8th.

BioXcel Therapeutics Stock Performance

Shares of BioXcel Therapeutics stock opened at $1.90 on Friday. The firm has a 50-day moving average of $2.90 and a 200-day moving average of $2.46. The stock has a market cap of $30.42 million, a PE ratio of -0.15 and a beta of 0.20. BioXcel Therapeutics has a 52-week low of $1.17 and a 52-week high of $12.16.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its 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 firm had revenue of $0.12 million for the quarter, compared to the consensus estimate of $0.21 million. Equities research analysts predict that BioXcel Therapeutics will post -24.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioXcel Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of BTAI. Goldman Sachs Group Inc. acquired a new position in BioXcel Therapeutics during the first quarter worth about $50,000. Murchinson Ltd. acquired a new position in BioXcel Therapeutics during the first quarter worth about $276,000. Geode Capital Management LLC raised its stake in BioXcel Therapeutics by 27.7% during the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after acquiring an additional 6,120 shares in the last quarter. SLT Holdings LLC acquired a new position in BioXcel Therapeutics during the third quarter worth about $76,000. Finally, Diversify Wealth Management LLC acquired a new position in BioXcel Therapeutics during the second quarter worth about $27,000. Institutional investors own 30.68% of the company’s stock.

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.