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

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) have been assigned an average rating of “Hold” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $39.75.

Several equities research analysts have weighed in on BTAI shares. HC Wainwright restated a “buy” rating and issued 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 note on Tuesday, August 26th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Wednesday, October 8th.

Hedge Funds Weigh In On BioXcel Therapeutics

Large investors have recently made changes to their positions in the company. Diversify Wealth Management LLC bought a new position in BioXcel Therapeutics in the second quarter valued at about $27,000. XTX Topco Ltd bought a new stake in BioXcel Therapeutics during the 2nd quarter worth about $42,000. Goldman Sachs Group Inc. acquired a new position in BioXcel Therapeutics during the 1st quarter valued at about $50,000. Geode Capital Management LLC boosted its stake in shares of BioXcel Therapeutics by 27.7% in the 2nd 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 last quarter. Finally, Foundations Investment Advisors LLC acquired a new stake in shares of BioXcel Therapeutics during the 3rd quarter worth approximately $76,000. Institutional investors and hedge funds own 30.68% of the company’s stock.

BioXcel Therapeutics Stock Performance

Shares of BTAI opened at $2.23 on Wednesday. The company has a market cap of $48.66 million, a price-to-earnings ratio of -0.23 and a beta of 0.20. The stock has a fifty day moving average price of $2.23 and a two-hundred day moving average price of $2.47. BioXcel Therapeutics has a 52-week low of $1.17 and a 52-week high of $9.26.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its earnings results on Wednesday, November 12th. The company reported ($2.18) earnings per share 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 the consensus estimate of $0.20 million. As a group, research analysts predict that BioXcel Therapeutics will post -24.39 EPS for the current fiscal year.

About BioXcel Therapeutics

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.