Brokerages Set BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Price Target at $65.00

BioXcel Therapeutics, Inc. (NASDAQ:BTAI – Get Rating) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $65.00.

Several research firms have recently weighed in on BTAI. HC Wainwright reduced their price target on BioXcel Therapeutics from $134.00 to $110.00 and set a “buy” rating on the stock in a report on Monday, May 23rd. Truist Financial cut their price objective on BioXcel Therapeutics from $125.00 to $71.00 in a research note on Tuesday, May 10th. Canaccord Genuity Group dropped their price target on BioXcel Therapeutics from $84.00 to $75.00 in a research note on Friday, May 13th. Finally, Bank of America upped their target price on BioXcel Therapeutics from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, April 6th.

Shares of BioXcel Therapeutics stock opened at $12.06 on Tuesday. The business has a fifty day simple moving average of $12.18 and a two-hundred day simple moving average of $16.53. BioXcel Therapeutics has a 1 year low of $8.80 and a 1 year high of $36.49. The company has a market capitalization of $337.50 million, a price-to-earnings ratio of -2.93 and a beta of 1.32.

BioXcel Therapeutics (NASDAQ:BTAI – Get Rating) last posted its earnings results on Monday, May 9th. The company reported ($1.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.21) by $0.09. During the same period last year, the company posted ($1.08) EPS. As a group, sell-side analysts expect that BioXcel Therapeutics will post -4.67 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in shares of BioXcel Therapeutics during the 3rd quarter valued at about $109,000. Quantbot Technologies LP purchased a new position in shares of BioXcel Therapeutics in the 1st quarter valued at approximately $79,000. Metropolitan Life Insurance Co NY lifted its stake in shares of BioXcel Therapeutics by 22.9% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 4,882 shares of the company’s stock valued at $148,000 after purchasing an additional 909 shares during the period. Ensign Peak Advisors Inc purchased a new position in shares of BioXcel Therapeutics in the 4th quarter valued at approximately $110,000. Finally, Virtus ETF Advisers LLC raised its stake in BioXcel Therapeutics by 47.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 8,164 shares of the company’s stock valued at $166,000 after buying an additional 2,615 shares during the last quarter. Hedge funds and other institutional investors own 49.77% of the company’s stock.

BioXcel Therapeutics Company Profile (Get Rating)

BioXcel Therapeutics, Inc, a clinical stage biopharmaceutical company, utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology in the United States. The company is involved in developing BXCL501, a sublingual thin film formulation of adrenergic receptor agonist dexmedetomidine for the treatment of agitation resulting from neurological and psychiatric disorders; and BXCL701, an immune activator for the treatment of prostate and pancreatic cancers, and solid tumors.

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