Analysts Set BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Target Price at $42.60

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has earned an average rating of “Moderate Buy” from the six brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $42.60.

Several research analysts have recently issued reports on BTAI shares. Rodman & Renshaw initiated coverage on shares of BioXcel Therapeutics in a report on Wednesday, March 19th. They issued a “buy” rating and a $65.00 price objective for the company. RODMAN&RENSHAW upgraded BioXcel Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 19th. HC Wainwright cut their price objective on BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Bank of America reaffirmed an “underperform” rating and set a $4.00 target price (down from $112.00) on shares of BioXcel Therapeutics in a report on Tuesday, January 7th. Finally, Canaccord Genuity Group cut their price target on shares of BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating for the company in a report on Monday, January 6th.

BioXcel Therapeutics Stock Performance

NASDAQ:BTAI opened at $2.31 on Friday. The stock has a market cap of $7.41 million, a price-to-earnings ratio of -0.07 and a beta of 0.89. BioXcel Therapeutics has a 1 year low of $1.72 and a 1 year high of $49.58. The business has a fifty day moving average of $3.26 and a 200-day moving average of $6.52.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its earnings results on Thursday, March 27th. The company reported ($3.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.36) by $0.79. The company had revenue of $0.30 million during the quarter, compared to the consensus estimate of $0.72 million. On average, equities research analysts predict that BioXcel Therapeutics will post -24.39 EPS for the current year.

Hedge Funds Weigh In On BioXcel Therapeutics

Hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC boosted its position in shares of BioXcel Therapeutics by 203.9% in the 4th quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock valued at $27,000 after purchasing an additional 48,336 shares during the period. Northern Trust Corp lifted its stake in BioXcel Therapeutics by 81.4% during the fourth quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock valued at $28,000 after buying an additional 33,161 shares in the last quarter. Wells Fargo & Company MN lifted its stake in BioXcel Therapeutics by 7.5% during the fourth quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock valued at $74,000 after buying an additional 13,952 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of BioXcel Therapeutics by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock worth $117,000 after buying an additional 13,922 shares during the period. 30.68% of the stock is currently owned by institutional investors and hedge funds.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology. The company's drug re-innovation approach leverages existing approved drugs and/or clinically validated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indices.