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

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has been given an average recommendation of “Hold” by the four analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $11.00.

BTAI has been the topic of several recent analyst reports. Wall Street Zen lowered BioXcel Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday. HC Wainwright dropped their target price on BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Rodman & Renshaw initiated coverage on BioXcel Therapeutics in a report on Tuesday, March 17th. They issued a “buy” rating and a $17.00 target price on the stock. Zacks Research raised BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Monday, April 20th.

BioXcel Therapeutics Price Performance

NASDAQ:BTAI opened at $1.08 on Wednesday. The firm has a market capitalization of $33.35 million, a PE ratio of -0.19 and a beta of 0.31. The business’s fifty day moving average price is $1.26 and its 200 day moving average price is $1.60. BioXcel Therapeutics has a 12 month low of $1.01 and a 12 month high of $8.08.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its earnings results on Friday, May 15th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.01). The company had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $0.38 million. As a group, equities analysts anticipate that BioXcel Therapeutics will post -2.07 EPS for the current year.

Hedge Funds Weigh In On BioXcel Therapeutics

Several hedge funds have recently made changes to their positions in BTAI. Goldman Sachs Group Inc. purchased a new position in shares of BioXcel Therapeutics during the first quarter worth about $50,000. Geode Capital Management LLC grew 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. XTX Topco Ltd purchased a new position in shares of BioXcel Therapeutics during the second quarter worth about $42,000. Diversify Wealth Management LLC purchased a new position in shares of BioXcel Therapeutics during the second quarter worth about $27,000. Finally, Foundations Investment Advisors LLC purchased a new position in shares of BioXcel Therapeutics during the third quarter worth about $76,000. Hedge funds and other institutional investors own 30.68% of the company’s stock.

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.