Zacks Investment Research cut shares of BioXcel Therapeutics (NASDAQ:BTAI) from a hold rating to a sell rating in a research note released on Thursday morning.

According to Zacks, “BioXcel Therapeutics Inc. is a clinical stage biopharmaceutical company. It focuses on drug development which utilizes novel artificial intelligence to identify the next wave of medicines across neuroscience and immuno-oncology. The company’s product portfolio include BXCL501, a sublingual thin film formulation of dexmedetomidine designed for acute treatment of agitation resulting from neurological and psychiatric disorders, and BXCL701, an immuno-oncology agent designed for treatment of a rare form of prostate cancer and for treatment of pancreatic cancer. BioXcel Therapeutics Inc. is based in the United States. “

Separately, HC Wainwright reiterated a buy rating and set a $25.00 price objective on shares of BioXcel Therapeutics in a report on Friday, January 4th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $18.67.

NASDAQ:BTAI traded down $0.11 during trading hours on Thursday, reaching $6.07. The company had a trading volume of 43,340 shares, compared to its average volume of 375,180. BioXcel Therapeutics has a twelve month low of $2.41 and a twelve month high of $14.79.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its quarterly earnings results on Friday, November 9th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.05). As a group, research analysts anticipate that BioXcel Therapeutics will post -1.2 EPS for the current year.

In other news, Director Peter Mueller purchased 8,795 shares of the company’s stock in a transaction that occurred on Friday, December 7th. The shares were bought at an average cost of $5.01 per share, with a total value of $44,062.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 19,152 shares of company stock worth $95,778 over the last three months.

A number of hedge funds have recently made changes to their positions in the business. Artemis Investment Management LLP raised its position in BioXcel Therapeutics by 1.3% in the third quarter. Artemis Investment Management LLP now owns 1,254,853 shares of the company’s stock worth $9,700,000 after acquiring an additional 16,358 shares during the period. Creative Planning bought a new stake in BioXcel Therapeutics in the third quarter worth about $102,000. Point72 Asset Management L.P. raised its position in BioXcel Therapeutics by 10.7% in the second quarter. Point72 Asset Management L.P. now owns 65,809 shares of the company’s stock worth $605,000 after acquiring an additional 6,358 shares during the period. Finally, BlackRock Inc. bought a new stake in BioXcel Therapeutics in the second quarter worth about $137,000. 20.79% of the stock is currently owned by institutional investors and hedge funds.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on novel artificial intelligence-based drug development in the fields of neuroscience and immuno-oncology in the United States. The company is involved in developing BXCL501, a sublingual thin film formulation of dexmedetomidine designed for acute treatment of agitation resulting from neurological and psychiatric disorders; and BXCL701, an immuno-oncology agent designed for the treatment of prostate and pancreatic cancers.

See Also: Investing in Dividend Stocks

Get a free copy of the Zacks research report on BioXcel Therapeutics (BTAI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for BioXcel Therapeutics (NASDAQ:BTAI)

Receive News & Ratings for BioXcel Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BioXcel Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.