Brokerages Set BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Target Price at $35.50

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has been assigned a consensus rating of “Hold” from the four analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $35.50.

Several equities analysts have recently issued reports on BTAI shares. Zacks Research downgraded shares of BioXcel Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 28th. HC Wainwright decreased their price objective on BioXcel Therapeutics from $10.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Wednesday, January 21st.

Hedge Funds Weigh In On BioXcel Therapeutics

A number of hedge funds have recently made changes to their positions in BTAI. Diversify Wealth Management LLC acquired a new position in shares of BioXcel Therapeutics in the second quarter worth approximately $27,000. HRT Financial LP acquired a new stake in BioXcel Therapeutics during the 4th quarter valued at approximately $28,000. XTX Topco Ltd bought a new position in BioXcel Therapeutics during the 2nd quarter worth approximately $42,000. Goldman Sachs Group Inc. acquired a new position in shares of BioXcel Therapeutics in the 1st quarter worth approximately $50,000. Finally, Geode Capital Management LLC lifted its position 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 worth $51,000 after purchasing an additional 6,120 shares during the period. 30.68% of the stock is currently owned by institutional investors.

BioXcel Therapeutics Stock Down 10.4%

Shares of BTAI opened at $1.55 on Friday. The stock has a market cap of $33.90 million, a PE ratio of -0.16 and a beta of 0.18. BioXcel Therapeutics has a 12-month low of $1.17 and a 12-month high of $8.08. The business has a 50-day simple moving average of $1.70 and a two-hundred day simple moving average of $2.20.

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.