BioXcel Therapeutics (NASDAQ:BTAI) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of BioXcel Therapeutics (NASDAQ:BTAI) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, BioXcel Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $37.50.

BioXcel Therapeutics Price Performance

Shares of NASDAQ:BTAI opened at $1.59 on Wednesday. The firm has a market capitalization of $34.77 million, a PE ratio of -0.16 and a beta of 0.21. The business has a 50-day moving average of $1.87 and a two-hundred day moving average of $2.53. BioXcel Therapeutics has a 12 month low of $1.17 and a 12 month high of $8.08.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its earnings results on Wednesday, November 12th. The company reported ($2.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.64). The firm had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.20 million. As a group, research analysts anticipate that BioXcel Therapeutics will post -24.39 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Oaktree Capital Management LP purchased a new stake in BioXcel Therapeutics during the 2nd quarter worth $437,000. Oaktree Fund Advisors LLC purchased a new position in BioXcel Therapeutics in the 2nd quarter valued at about $78,000. Millennium Management LLC acquired a new stake in shares of BioXcel Therapeutics during the third quarter valued at about $2,632,000. XTX Topco Ltd purchased a new stake in shares of BioXcel Therapeutics during the second quarter worth about $42,000. Finally, Geode Capital Management LLC increased its position in shares of 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 during the last quarter. 30.68% of the stock is owned by institutional investors and hedge funds.

BioXcel Therapeutics Company Profile

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.