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

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $42.60.

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

Institutional Trading of BioXcel Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC lifted its holdings in shares of BioXcel Therapeutics by 203.9% in the fourth quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock worth $27,000 after acquiring an additional 48,336 shares during the last quarter. Northern Trust Corp boosted its position in BioXcel Therapeutics by 81.4% in 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 grew its stake in shares of BioXcel Therapeutics by 7.5% during the fourth quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock worth $74,000 after buying an additional 13,952 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of BioXcel Therapeutics by 4.7% during 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 in the last quarter. 30.68% of the stock is currently owned by institutional investors.

BioXcel Therapeutics Stock Performance

Shares of BTAI opened at $1.71 on Tuesday. The firm’s 50-day simple moving average is $2.15 and its 200 day simple moving average is $5.49. The firm has a market cap of $9.38 million, a P/E ratio of -0.05 and a beta of 0.64. BioXcel Therapeutics has a 52 week low of $1.29 and a 52 week high of $48.72.

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

BioXcel Therapeutics Company Profile

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.