BioXcel Therapeutics (NASDAQ:BTAI) Cut to Strong Sell at Zacks Research

BioXcel Therapeutics (NASDAQ:BTAI) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $37.50.

BioXcel Therapeutics Stock Performance

BTAI opened at $1.62 on Wednesday. BioXcel Therapeutics has a fifty-two week low of $1.17 and a fifty-two week high of $8.08. The firm has a 50-day moving average of $1.88 and a 200 day moving average of $2.53. The firm has a market cap of $35.43 million, a P/E ratio of -0.17 and a beta of 0.21.

BioXcel Therapeutics (NASDAQ:BTAI) last released its earnings results on Wednesday, November 12th. The company reported ($2.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.64). The business had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.20 million. Equities research analysts predict that BioXcel Therapeutics will post -24.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioXcel Therapeutics

Hedge funds have recently made changes to their positions in the stock. Diversify Wealth Management LLC bought a new stake in shares of BioXcel Therapeutics during the 2nd quarter valued at $27,000. XTX Topco Ltd bought a new position in BioXcel Therapeutics in the 2nd quarter worth about $42,000. Goldman Sachs Group Inc. purchased a new position in BioXcel Therapeutics during the 1st quarter valued at about $50,000. Geode Capital Management LLC increased its position 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 valued at $51,000 after buying an additional 6,120 shares during the period. Finally, SLT Holdings LLC bought a new stake in shares of BioXcel Therapeutics during the third quarter valued at about $76,000. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

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.