Brokerages Set BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Target Price at $11.00

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

A number of analysts have issued reports on the stock. HC Wainwright cut their price target on shares of BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Wall Street Zen lowered shares of BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Monday, April 20th.

BioXcel Therapeutics Trading Down 10.5%

BTAI stock opened at $0.92 on Thursday. The company has a market capitalization of $28.45 million, a PE ratio of -0.16 and a beta of 0.27. BioXcel Therapeutics has a 12-month low of $0.74 and a 12-month high of $8.08. The business’s fifty day moving average price is $1.16 and its 200 day moving average price is $1.39.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its earnings results on Friday, May 15th. The company reported ($0.54) earnings per share (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. Research analysts predict that BioXcel Therapeutics will post -2.07 EPS for the current fiscal year.

Hedge Funds Weigh In On BioXcel Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in BioXcel Therapeutics by 27.7% in the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock valued at $51,000 after purchasing an additional 6,120 shares during the period. State Street Corp grew its stake in BioXcel Therapeutics by 19.9% during the 4th quarter. State Street Corp now owns 63,218 shares of the company’s stock worth $101,000 after purchasing an additional 10,500 shares in the last quarter. Diversify Wealth Management LLC purchased a new stake in BioXcel Therapeutics during the 2nd quarter worth about $27,000. HRT Financial LP purchased a new stake in BioXcel Therapeutics during the 4th quarter worth about $28,000. Finally, XTX Topco Ltd acquired a new stake in BioXcel Therapeutics in the 2nd quarter valued at about $42,000. 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.