BioXcel Therapeutics (NASDAQ:BTAI) Cut to “Sell” at Wall Street Zen

BioXcel Therapeutics (NASDAQ:BTAI) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

A number of other analysts have also commented on BTAI. Rodman & Renshaw initiated coverage on BioXcel Therapeutics in a research report on Tuesday, March 17th. They issued a “buy” rating and a $17.00 price objective for the company. Zacks Research raised shares of BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. HC Wainwright lowered their price target on shares of BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.00.

BioXcel Therapeutics Price Performance

Shares of NASDAQ:BTAI opened at $1.18 on Friday. The business has a 50-day moving average of $1.54 and a two-hundred day moving average of $1.90. BioXcel Therapeutics has a fifty-two week low of $1.08 and a fifty-two week high of $8.08. The stock has a market capitalization of $31.95 million, a P/E ratio of -0.18 and a beta of 0.30.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings data on Friday, March 27th. The company reported ($0.58) EPS for the quarter, meeting analysts’ consensus estimates of ($0.58). The firm had revenue of $0.26 million during the quarter, compared to the consensus estimate of $0.15 million. As a group, research analysts expect that BioXcel Therapeutics will post -24.39 EPS for the current fiscal year.

Hedge Funds Weigh In On BioXcel Therapeutics

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in BioXcel Therapeutics by 27.7% during the 2nd quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after purchasing an additional 6,120 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in BioXcel Therapeutics by 38.5% in the third quarter. Jones Financial Companies Lllp now owns 36,000 shares of the company’s stock valued at $97,000 after buying an additional 10,000 shares in the last quarter. State Street Corp lifted its stake in BioXcel Therapeutics by 19.9% in the fourth quarter. State Street Corp now owns 63,218 shares of the company’s stock valued at $101,000 after buying an additional 10,500 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in shares of BioXcel Therapeutics in the second quarter valued at approximately $27,000. Finally, HRT Financial LP bought a new stake in shares of BioXcel Therapeutics during the fourth quarter worth $28,000. Institutional investors own 30.68% of the company’s stock.

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.