Analysts Set BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Target Price at $11.00

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) have been given an average recommendation of “Hold” by the four ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $11.00.

BTAI has been the subject of a number of research reports. Wall Street Zen upgraded BioXcel Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Monday, April 20th. HC Wainwright decreased their target price on BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Zacks Research upgraded BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Rodman & Renshaw initiated coverage on BioXcel Therapeutics in a research note on Tuesday, March 17th. They issued a “buy” rating and a $17.00 target price for the company.

Hedge Funds Weigh In On BioXcel Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC acquired a new position in shares of BioXcel Therapeutics during the third quarter valued at $2,632,000. Geode Capital Management LLC boosted its holdings in shares of BioXcel Therapeutics by 64.6% during the fourth quarter. Geode Capital Management LLC now owns 206,168 shares of the company’s stock valued at $330,000 after acquiring an additional 80,928 shares during the period. Jane Street Group LLC acquired a new position in shares of BioXcel Therapeutics during the fourth quarter valued at $204,000. State Street Corp boosted its holdings in shares of BioXcel Therapeutics by 19.9% during the fourth quarter. State Street Corp now owns 63,218 shares of the company’s stock valued at $101,000 after acquiring an additional 10,500 shares during the period. Finally, Man Group plc acquired a new position in shares of BioXcel Therapeutics during the fourth quarter valued at $91,000. Institutional investors and hedge funds own 30.68% of the company’s stock.

BioXcel Therapeutics Price Performance

BioXcel Therapeutics stock opened at $1.09 on Friday. The company has a market cap of $29.52 million, a PE ratio of -0.16 and a beta of 0.30. The company has a fifty day moving average price of $1.39 and a two-hundred day moving average price of $1.72. BioXcel Therapeutics has a 12 month low of $1.01 and a 12 month high of $8.08.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly earnings data on Friday, March 27th. The company reported ($0.58) EPS for the quarter, hitting analysts’ consensus estimates of ($0.58). Equities research analysts anticipate that BioXcel Therapeutics will post -2.35 earnings per share for the current year.

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.