BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Given Average Recommendation of “Hold” by Brokerages

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has earned an average rating of “Hold” from the four research firms that are currently covering the company, Marketbeat Ratings 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 target among brokerages that have issued a report on the stock in the last year is $11.00.

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

Institutional Investors Weigh In On BioXcel Therapeutics

Several hedge funds have recently made changes to their positions in BTAI. Diversify Wealth Management LLC acquired a new stake in shares of BioXcel Therapeutics during the second quarter worth $27,000. HRT Financial LP acquired a new stake in shares of BioXcel Therapeutics during the fourth quarter worth $28,000. XTX Topco Ltd acquired a new stake in shares of BioXcel Therapeutics during the second quarter worth $42,000. Goldman Sachs Group Inc. acquired a new stake in shares of BioXcel Therapeutics during the first quarter worth $50,000. Finally, Geode Capital Management LLC boosted its holdings 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 purchasing an additional 6,120 shares during the last quarter. Institutional investors and hedge funds own 30.68% of the company’s stock.

BioXcel Therapeutics Stock Performance

BioXcel Therapeutics stock opened at $1.14 on Friday. The stock has a fifty day moving average of $1.15 and a two-hundred day moving average of $1.52. The company has a market capitalization of $35.20 million, a price-to-earnings ratio of -0.20 and a beta of 0.30. BioXcel Therapeutics has a fifty-two week low of $1.01 and a fifty-two week high of $8.08.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly 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, analysts forecast that BioXcel Therapeutics will post -2.07 EPS for the current fiscal 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.