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

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has received a consensus recommendation of “Hold” from the four research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $11.00.

Several equities analysts have weighed in on BTAI shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Monday, April 20th. Wall Street Zen cut BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Rodman & Renshaw started coverage on BioXcel Therapeutics in a research note on Tuesday, March 17th. They set a “buy” rating and a $17.00 target price on the stock. HC Wainwright lowered their target price on BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Finally, Zacks Research raised BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th.

BioXcel Therapeutics Trading Up 8.0%

Shares of BTAI opened at $1.22 on Wednesday. BioXcel Therapeutics has a 1-year low of $1.01 and a 1-year high of $8.08. The business’s 50-day moving average price is $1.22 and its 200 day moving average price is $1.58. The stock has a market capitalization of $37.67 million, a P/E ratio of -0.21 and a beta of 0.31.

BioXcel Therapeutics (NASDAQ:BTAI) last released its earnings results on Friday, May 15th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The business had revenue of $0.21 million during the quarter, compared to the consensus estimate of $0.38 million. On average, research analysts predict that BioXcel Therapeutics will post -2.07 earnings per share for the current year.

Hedge Funds Weigh In On BioXcel Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Diversify Wealth Management LLC acquired a new stake in shares of BioXcel Therapeutics during the 2nd quarter valued at about $27,000. HRT Financial LP acquired a new stake in shares of BioXcel Therapeutics during the 4th quarter valued at about $28,000. XTX Topco Ltd acquired a new stake in shares of BioXcel Therapeutics during the 2nd quarter valued at about $42,000. Goldman Sachs Group Inc. acquired a new stake in shares of BioXcel Therapeutics during the 1st quarter valued at about $50,000. Finally, Geode Capital Management LLC lifted its holdings in shares of BioXcel Therapeutics by 27.7% during the 2nd quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock valued at $51,000 after buying an additional 6,120 shares during the last quarter. Hedge funds and other 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.