BioXcel Therapeutics Inc (BTAI) Receives Consensus Recommendation of “Strong Buy” from Analysts
BioXcel Therapeutics Inc (NASDAQ:BTAI) has been given an average broker rating score of 1.00 (Strong Buy) from the five analysts that cover the company, Zacks Investment Research reports. Five research analysts have rated the stock with a strong buy recommendation.
Analysts have set a 12-month consensus target price of $20.40 for the company and are anticipating that the company will post ($0.26) earnings per share for the current quarter, according to Zacks. Zacks has also given BioXcel Therapeutics an industry rank of 105 out of 255 based on the ratings given to related companies.
BTAI has been the topic of several analyst reports. Zacks Investment Research raised BioXcel Therapeutics from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Tuesday. Canaccord Genuity reaffirmed a “buy” rating and issued a $21.00 target price on shares of BioXcel Therapeutics in a research report on Friday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price on shares of BioXcel Therapeutics in a research report on Wednesday, August 1st.
BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings data on Wednesday, August 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.13. analysts predict that BioXcel Therapeutics will post -1.37 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in BioXcel Therapeutics in the second quarter worth $137,000. Millennium Management LLC acquired a new stake in BioXcel Therapeutics in the first quarter worth $316,000. Point72 Asset Management L.P. acquired a new stake in BioXcel Therapeutics in the first quarter worth $609,000. California Public Employees Retirement System acquired a new position in shares of BioXcel Therapeutics during the first quarter valued at $3,362,000. Finally, Barclays PLC acquired a new position in shares of BioXcel Therapeutics during the first quarter valued at $6,331,000. 29.88% of the stock is currently owned by hedge funds and other institutional investors.
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.
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