BioXcel Therapeutics (NASDAQ:BTAI) Raised to Hold at Wall Street Zen

BioXcel Therapeutics (NASDAQ:BTAI) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other equities analysts also recently issued reports on the company. Rodman & Renshaw began coverage on BioXcel Therapeutics in a research report on Tuesday, March 17th. They set a “buy” rating and a $17.00 price target on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Wednesday, January 21st. HC Wainwright dropped their target price on BioXcel Therapeutics from $10.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Finally, Zacks Research raised BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, BioXcel Therapeutics has a consensus rating of “Hold” and a consensus price target of $11.50.

BioXcel Therapeutics Stock Performance

NASDAQ:BTAI opened at $1.26 on Friday. The company’s 50-day simple moving average is $1.60 and its 200-day simple moving average is $1.99. BioXcel Therapeutics has a fifty-two week low of $1.17 and a fifty-two week high of $8.08. The stock has a market capitalization of $27.56 million, a P/E ratio of -0.13 and a beta of 0.18.

Hedge Funds Weigh In On BioXcel Therapeutics

Hedge funds have recently made changes to their positions in the company. Diversify Wealth Management LLC purchased a new position in BioXcel Therapeutics in the 2nd quarter worth $27,000. HRT Financial LP purchased a new stake in BioXcel Therapeutics during the 4th quarter valued at about $28,000. XTX Topco Ltd purchased a new stake in BioXcel Therapeutics during the 2nd quarter valued at about $42,000. Goldman Sachs Group Inc. acquired a new position in shares of BioXcel Therapeutics in the first quarter valued at about $50,000. Finally, Geode Capital Management LLC increased its holdings in shares of BioXcel Therapeutics by 27.7% in the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock valued at $51,000 after purchasing an additional 6,120 shares during the period. 30.68% of the stock is owned by institutional investors and hedge funds.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc is a biopharmaceutical company leveraging an AI-driven drug development platform to identify and advance novel or repurposed therapies in neuroscience and immunology. The proprietary BioXcel AI engine analyzes preclinical and clinical data to reveal new therapeutic applications for existing small molecules and biologics, aiming to streamline development timelines and improve patient outcomes.

BioXcel’s commercial portfolio includes two FDA-approved therapies. IGALMI® (dexmedetomidine) is indicated for the acute treatment of agitation in schizophrenia or bipolar I disorder, offering a noninvasive, sublingual delivery option.